A Funny Los Angeles Dodgers World Series Champions Tommy Sorda 1927 2021 Signature Shirt blatantly false statement that reflects how little truth there is in anything said here. Hoover became president in March 1929, with the Depression happening in October. I am not a historian, but I would debate this idea. We were on a slow improvement and were primed to break out. This is very similar to what happened with Obama/Trump Obama had a slow recovery over about 6-9 years, but his actions probably helped as much as anything else. As soon as FDR was in office, they passed many of Hoover’s desired reforms and policies, many of which helped lessen the effects of the depression.
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WWII was Funny Los Angeles Dodgers World Series Champions Tommy Sorda 1927 2021 Signature Shirts what pulled us out of the depression, not the economic policies of the FDR administration. I was the only one in my Econ class that knew these things. My professor wasn’t easily impressed but he shouted. You’re right! I read history for fun as a kid. What FDR did was to stop a run on the banks; inspire confidence in the government, and put into effect programs that put people to work. Unfortunately, taxes rose so high they stifled activity and expansion in the private sector, which is the great creator of wealth. This tax policy prolonged the Depression, and the Dust Bowl drought made it worse again.