The Mudcat Café TM
Thread #146663   Message #3396639
Posted By: pdq
28-Aug-12 - 04:13 PM
Thread Name: BS: Herbert Hoover: A Sucessful President
Subject: RE: BS: Herbert Hoover: A Sucessful President...
"Hoover might have been bright but his biggest problem is that he didn't understand basic economics..." ~ B-pert

True, but his big mistake was looking for advice about the economy from fans of Maynard Keynes. Yes, a the darling of Liberals.

Hoover followed the new whiz kid's advice and started huge Fedral projects and Federal spending. Called "pump priming" at the time.

He also raised the Federal income tax maximum from 35% to 63%!

Roosevelt kept doing the same things when he took over and got the same results: the economy got worse.

We got out of the Depression due to the bombs dropped on Pearl.