Recession 2001

The nation has officially been declared to be in a recession. Senator Tom Daschle, has called it George Bush's recession. So much for bi-partisan cooperation in D.C. Actually presidents have little power over recessions, depressions or inflation. These are economic events that occur when a great many disparate individual economic events occur. Though a president cannot determine if a recession will occur, it often determines in a president will have a second term. If Senator Daschle really needs a president to blame, why not choose Bill Clinton who was in office when Wall Street began to melt down.

The greatest myth of the 20th century was that FDR helped save America from the Great Depression. His work programs put dollars in the pockets of individuals needing money to survive, but did nothing to cure the Great Depression of the 1930's. Instead it was World War II that turned the depression around. Manufacturers geared up to make and sell war munitions to the Allies, and the US later on, putting millions of Americans to work. Many able bodied men didn't need jobs as they voluntered for the Army, Navy and Marines (no there wasn't an Air Force back then).

So to blame the current sitting president for causing the current recession shows a lack of economic smarts on the part of Senator Daschle and the Democratic Nation Party who are soon to release targeted advertising to try and win additional congressional seats in the 2002 election next fall.

11/30/01 ( 407 )
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