Let’s start with the Great Depression. The US didn’t go through 3 misery under Republican rule as if they were on a bad blind date. The country suffered an economic collapse of the likes never seen before. It is estimated the unemployment rate went from 3.2% in 1929 to 25% when Roosevelt was inaugurated in 1933. The banking system completely collapsed. The GDP of the US went from $790.9B in 1929 to $577B in 1933. It managed to exceed pre Great Depression level in 1937 when it went up to $831B.
Now let’s talk about Ike. Full disclosure: I Like Ike. He was a great general and a very good president. But this claim of unstoppable prosperity is a myth. There were actually 3 recessions during the Eisenhower Administration. The unemployment rate was 2.9% when Ike took office. It went as low as 2.5% during the early months of Administration before the recession hit in Fall ‘53. This contributed directly to the Dems taking control of Congress in ‘54. The next recession was ‘57 to ‘58. This lead to a Democratic landslide in ‘58. The 3rd and last recession couldn’t have been worst timed for Richard Nixon. It was the summer of 1960, months before the election. So, Eisenhower came into office with 2.9% unemployment and left with 6.6% unemployment.
After the last Ike recession ended during the first year of the JFK Administration, there was no economic downturn until Nixon came into office — 8 straight years of economic growth. When Nixon came into office in 1969, the unemployment rate was 3.4%. When his successor Gerald Ford left office in 1977 it was 7.8%.
Oh where do I start to answer the Voice?
Let’s start with the Great Depression. The US didn’t go through 3 misery under Republican rule as if they were on a bad blind date. The country suffered an economic collapse of the likes never seen before. It is estimated the unemployment rate went from 3.2% in 1929 to 25% when Roosevelt was inaugurated in 1933. The banking system completely collapsed. The GDP of the US went from $790.9B in 1929 to $577B in 1933. It managed to exceed pre Great Depression level in 1937 when it went up to $831B.
Now let’s talk about Ike. Full disclosure: I Like Ike. He was a great general and a very good president. But this claim of unstoppable prosperity is a myth. There were actually 3 recessions during the Eisenhower Administration. The unemployment rate was 2.9% when Ike took office. It went as low as 2.5% during the early months of Administration before the recession hit in Fall ‘53. This contributed directly to the Dems taking control of Congress in ‘54. The next recession was ‘57 to ‘58. This lead to a Democratic landslide in ‘58. The 3rd and last recession couldn’t have been worst timed for Richard Nixon. It was the summer of 1960, months before the election. So, Eisenhower came into office with 2.9% unemployment and left with 6.6% unemployment.
After the last Ike recession ended during the first year of the JFK Administration, there was no economic downturn until Nixon came into office — 8 straight years of economic growth. When Nixon came into office in 1969, the unemployment rate was 3.4%. When his successor Gerald Ford left office in 1977 it was 7.8%.