It is not the Party’s Fault; It’s the “Isms”

This is in response to a Letter to the Editor blaming Republicans for all America’s economic woes throughout our history:

I could not help but response to David B. Munsey revisionist history of the role Republicans played in the economy. But in order to fairly represent the true nature of the discussion, the dialogue should really focus on the difference between the “ism” that controlled the debate at the time of the economic up or down. Was it progressivism or conservatism that was the overall guiding principles? By worrying less about the party affiliation, and focusing more on the reining “ism,” you start see an obvious trend.

First, Mr. Munsey ignores the Great Depression of 1920. That’s right 1920, not 1931. The WORSE economic crash to occur in modern record keeping was the crash under progressive Woodrow Wilson (D). Wilson applied a high tax rate (upwards of 70%) and massive deficit spending (spending outpaced tax revenues X 3). The fastest recovery out of a major economic downturn occurred under the great “forgotten” President, conservative Calvin Coolidge (R). President Coolidge reduced the tax rate to 25% and cut spending by a whopping 50%! It is the combination of a fair tax percentage and STRICT spending controls that resulted in higher tax revenues and unprecedented employment (98.1 % employment). Under Coolidge’s conservative leadership we saw the largest increase of the middle class in history.

The next economic downturn, 1929, which contrary to misconception, was not the start of the “Great Depression.” However, the downturn of 1929 was the result of the progressive policies of President Herbert Hoover (the “forgotten progressive”) (R). Hoover ignored the lessons of the Wilson administration and abandoned the conservative principals established by Coolidge. Hoover initially maintained the lower tax rate, but increased spending to record deficit levels (much like we saw under Bush 43). Also under Hoover, we started to see the heavy hand of government being applied to business. Lo and behold, the economic collapsed, eventually leading to the depression of 1929.

I noticed that Mr. Munsey ignored the next two great dips in our economy, 1931 (the Great Depression) and 1938, probable for good reason; they would not play very well into his argument of Democrat (good) versus Republican (bad). The Great Depression was the direct result of heavy taxation, deficit spending, confusing government control, and lastly, Hoover and the Congress trying to “spend” their way into prosperity (sound familiar?). Policies that would be continued under FDR.

1938, America saw another major economic downturn with high unemployment (19% ), out of control spending , a punishing tax code (67%), the heavy hand of government entanglements within the market, and continued attempts by the US government to spend their way into prosperity. In fact FDR’s attempt to “control” the economic resulted in the comment made by FDR’s Secretary of Treasury, "We've tried spending money. We are spending more money than we have ever spent before, and it does not work."

I could go on, but why bother. When our government is guided by progressive policies, economic downturn will follow. Whenever the government is guided by conservative principals, true economic prosperity follows. Mr. Munsey is simply reciting from the playbook of the “new progressives,” which currently exist in both major Parties.

40% of all Americans identify themselves as Conservatives, and for good reason. They understand that both deficit spending and a punishing tax code are immoral. They also understand that government should function the same way a responsible household does; with a balance check book and by not stealing from your neighbors to make up for a lack of fiscal responsibility. It is progressive policies that have failed us, and both the Democrats and Republicans are guilty.