The Republicans Are Lying (Again): The Truth About Our Economic History


Ever verbally flatulent right-wing radio host Rush Limbaugh has ratcheted up his attacks on President Obama’s handling of the economy with his entertaining yet deceptive brand of pseudo-journalism. Mr. Limbaugh unashamedly is attributing the recent increase in lay-offs across the country to what he is framing as President Obama’s “War on Prosperity”. This catch-phrase will surely go viral as most Republican talking points tend to do. As expected, the conservative spin machine blames the nation’s economic mess on Obama, who has been in office barely TWO WEEKS, while ignoring the past EIGHT YEARS of disastrous economic policies. This is typical of the conservative liars movement. Facts are mere inconveniences to these purveyors of deceit.

You will never hear this on Rush Limbaugh’s propaganda show.  

The Facts

The Republicans love to point out that whenever the country is run by their party the country prospers economically. But a cursory glance at history tells an entirely different story. In the last 100+ years, the United States has suffered through ELEVEN (11) severe economic downturns. Of the 11 economic disasters, the Republicans held the presidency at the onset of NINE of them! Most notably, the Republicans were directly responsible, through their rabid belief of laissez-faire capitalism, for the two greatest economic collapses in our history. Fiscal responsibility is a Republican oxymoron. There have been 5 presidents in the past 32 years. (3 Republicans and 2 Democrats) In those 32 years, the federal budget deficit relative to GDP grew from the previous year on 22 occasions. Republican Presidents oversaw 19 of those 22 deficit growth years. In fact, under Presidents Carter and Clinton, the year to year budget deficit relative to GDP grew only on 3 occasions. Only once in 20 years of rule (Reagan in 1981) did Republicans manage to decrease the yearly deficit.  

The Recessions

1. Panic of 1907

(1907-1908): Theodore Roosevelt (Republican)

 2. Post WWI Recession

(1918-1921): Woodrow Wilson (Democrat)

 

3. The Great (Republican) Depression

(1929+): Herbert Hoover (Republican)

 

4. Recession of 1953

(1953-1954): Dwight D. Eisenhower (Republican)

 

5. Recession of 1957

(1957-1958): Dwight D. Eisenhower (Republican)

 

6. Recession of 1960

(1960-1961): John F. Kennedy (Democrat)

 

7. The Oil Crisis

(1973-1975): Richard Nixon (Republican)

 

8. Early 1980’s Recession

(1980-1982): Ronald Reagan (Republican)

 

9. 1990 Recession

(1990-1991): George H.W. Bush (Republican)

 

10. 2002 Recession

(2002-2003): George W. Bush (Republican)

 

11. The Second Great (Republican) Depression

(2007 – ???): George W. Bush (Republican)

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