It is getting increasingly difficult for the Republicans to lay claim that they are the “fiscally responsible party” or “the responsible businessmen.”
In the 1920 election, Warren Harding (R) ran on the platform of “Less government in business, and more business in government.” He won that election, followed by Calvin Coolidge (who was Harding’s VP) in 1924, and Herbert Hoover in 1928. The Roaring 20’s saw great prosperity for the wealthiest Americans. It was this unfettered Capitalism that lead to the Great Crash/Republican Great Depression.
Hoover lost re-election in 1932 to FDR. It was FDR who lead us out of the Republican Depression. If you ask a conservative, they will undoubtedly tell you that it was WWII that brought us out and that FDR failed when we relapsed into a mini-depression in 1936.
Here are a couple of facts:
The Republicans were able to gain public support to cut spending. FDR went along with them and cut back, which caused the economy to slow again in 1936. There were 3 basic things that lead to our recovery:
- The rise of labor unions allowed working people to make a livable wage.
- FDR raised taxes on the wealthy. The top tax rate was 91%!
- FDR INCREASED Government spending.
Conservatives claim it was WWII that did the trick. There is some truth to this, but that answer alone is too generic. The question is how did a war get us out of a depression? Because the Government spent money! It was the most expensive project the country had seen. Government spending creates jobs. War was just a byproduct. (not to minimize the effects of the second World War, but we are speaking about economics alone)
The last time the GOP held power in both houses of congress and the White House was 1933 (effectively 1932). This caused the Republican Depression. They then held both houses and the White House under George W. Bush. This lead to the Republican Recession.
Now, the GOP has shutdown the Government in an effort to essentially nullify their loss in the 2012 election.
When will corporations and the wealthy realize that it is the Democrats that create a working economy. The GOP run the government like a kid who found their dad’s gun. It is so exciting, yet so dangerous and their ignorance can cause it to fire accidentally.
No doubt, the Koch brothers are bank rolling the Tea Party and people like Ted Cruz. But what about the rest of Corporate America? As government contracts dry up, stocks shrink, and the economy turns downward; you have to believe that the GOP donors are going to start knocking on the door of people like John Boehner to tell him to fix this mess.
But what if Boehner bows to the Tea Party and stands firm? These corporate donors are only interested in 1 thing: Their bottom line. That will be jeopardized with the antics of the Tea Party and the Republican caucus. They have already shutdown the government and now they are threatening to default on our financial obligations. The GOP screams that the Democrats create uncertainty with all of “their big government regulations,” but it is these types of antics that are causing true uncertainty.
Will the donors stand up and decide to fund the Democrats in 2014, only because at least the Dems can govern like adults? Or perhaps, they will run moderate Republicans in these districts which could be the rebirth of the Republican Party of Dwight Eisenhower.
Time will tell, but the Republicans should start thinking about the fact that their beloved “Citizens United” decision, might not be as loyal to them as they thought...
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