Republicans Gave Us The “Panic” Of 1873, “Panic” Of 1893, The Great Depression, And The Great Recession, And Are Now Further Harming America With Tax Cuts For Wealthy And Corporations

The Republican Party gave us the Great Depression of 1929 under Herbert Hoover, caused by Republican policies under Calvin Coolidge.

President Franklin D. Roosevelt, the Democrats, and the New Deal programs saved millions of Americans in the years from 1933 to 1939, when the military buildup for a potential entrance into World War II finally led to a total recovery of the economy.

Earlier, in the 1870s, Republican President Ulysses S. Grant presided over the Panic of 1873, which lasted until 1879, also under a Republican Congress.

In the early 1890s, Republicans, under President Benjamin Harrison, undermined the economy, and as Democrat Grover Cleveland succeeded Harrison in the White House, America entered the Panic of 1893, which did not end until 1898, and entrance into the Spanish American War.

And in late 2007 until early 2009, we had the Great Recession under Republican President George W. Bush, the worst situation since Herbert Hoover and the Great Depression, and it took the entire Barack Obama Presidency to bring unemployment down from 10 percent to under 5 percent, and the stock market grew by close to 250 percent.

Obama accomplished a revival that was greater than FDR, and without going to war.

Now, the Republicans are trying to ram through a massive tax cut for corporations and the wealthy top one to two percent, which will further harm America. It is likely to lead to another Great Recession, made worse by the likelihood that the Republicans will attempt to undermine Social Security, Medicare, and Medicaid in 2018, because of lessened funding with the cut in taxes collected. This will force massive cuts in the social safety net of the New Deal of FDR and the Great Society of President Lyndon B. Johnson.

30 comments on “Republicans Gave Us The “Panic” Of 1873, “Panic” Of 1893, The Great Depression, And The Great Recession, And Are Now Further Harming America With Tax Cuts For Wealthy And Corporations

  1. Pragmatic Progressive December 15, 2017 5:03 pm

    Getting rid of net neutrality is a slice of the deregulation pie that Trump announced yesterday.

    His announcement about it was rather laughable. He had a small stack of papers representing regulations in 1960 (which, from my understanding, is what he wants to go back to) and a huge stack of papers representing regulations today with red tape across the stacks. He used some scissors to literally cut the red tape. LOL!

  2. Pragmatic Progressive December 15, 2017 7:43 pm

    Rubio and Corker have done a 180-degree turn and now support the tax bill.

  3. D December 16, 2017 10:21 am

    Southern Liberal writes, “The Republican-led Federal Communications Commission voted to get rid of net neutrality. | It’s very obvious that Trump and his Republican stooges are trying to get rid of any and all progress made under Obama.”

    Pragmatic Progressive writes, “Getting rid of net neutrality is a slice of the deregulation pie that Trump announced yesterday.”

    * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

    Ajit Pai gets new term on FCC despite protest of anti-net neutrality plan

    By Jon Brodkin (10.02.2017)

    “[Ajit] Pai received yea votes from 48 Republicans and four Democrats. The four Democratic senators who helped Pai gain re-confirmation were Joseph Manchin (D-W.V.); Claire McCaskill (D-Mo.); Gary Peters (D-Mich.); and Jon Tester (D-Mont.).”

    * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

    Since 2018 is shaping up to be a midterm election wave for the Democrats, now is a good time for change. Change within the Democratic Party.

    Why on earth should Missouri’s Claire McCaskill, Montana’s Jon Tester, and West Virginia’s Joe Manchin—whose seats are on the schedule—get re-nominated (let alone re-elected)?

    (Michigan’s Gary Peters, another corporate Democrat, is not up for re-election until 2020. He will not receive my vote.)

    In recent years, Republican primaries voters have been better at getting rid of their incumbents—ones who they determined needed to go—and it is past time for Democratic primaries voters to do the same.

  4. Rustbelt Democrat December 16, 2017 11:23 am

    D – West Virginia has gone very red in recent decades, which means any Democrat from that state has to toe a very thin line in representing his state in Congress. Therefore, to expect Manchin to vote like Bernie is just fantasy. And while Manchin does vote with Republicans more than other Democrats, he still votes with Democrats more than 80 percent of the time. If Manchin is replaced next year, it will be that much harder for Bernie Sanders and other progressives in Congress to get anything done. And he will be replaced by a teabagger, who will vote with Republicans far more than Manchin. Replacing someone who votes with Democrats 80 percent of the time with someone who votes with them 2 percent of the time is not what I consider progress.

  5. Pragmatic Progressive December 16, 2017 11:27 am

    I second that Rustbelt.

  6. Southern Liberal December 16, 2017 11:33 am

    I second that too Rustbelt. Not all areas of the country are liberal like California or New York.

  7. Princess Leia December 16, 2017 11:44 am

    Like Southern Liberal said, states like Missouri, Montana, West Virginia are not liberal states.

  8. Ronald December 16, 2017 12:22 pm

    I have to say, D, that on this issue you have brought up, I have to disagree, regrettably, as we will NEVER have an all liberal Democratic Party.

    They will NEVER gain power that way, so we have to accept the Manchins, the Donnellys, the Heitkamps, the Testers, the McCaskills, and if they vote a vast majority of time with other Democrats, that is the best we can expect!

  9. Rustbelt Democrat December 17, 2017 10:47 am

    n recent years, Republican primary voters have been better at getting clowns for their clown car.

    There. Fixed it for you. LOL!

  10. Ronald December 18, 2017 5:13 pm

    These articles indicate just how horrifying and nightmarish Trump is, and he must be removed pronto!

    But Pence would be no better, sadly!

    A feeling of total disillusionment and exasperation sets in! 🙁

  11. Former Republican December 18, 2017 10:10 pm

    Mueller must be getting closer to the inner circle. Perhaps Jared or Junior. Fasten your seatbelts, folks. The ride’s going to be getting bumpy.

  12. Rational Lefty December 19, 2017 8:16 pm

    Christmas theme song for Trump and the Republicans! 🙂

  13. Princess Leia December 20, 2017 3:16 pm

    House voted on their tax bill again. All Democrats said No to it. Same 12 Republicans said No to it. The rest of the Republicans said Yes to it.

  14. Pragmatic Progressive December 20, 2017 3:24 pm

    Trump and his Republican buddies are celebrating at the White House. Absolutely sickening to watch.

  15. Rational Lefty December 20, 2017 4:19 pm

    Pundits were talking about, even if Democrats win back Congress in 2018, it could take years to fix the damage done by the Republicans today.

  16. Ronald December 20, 2017 5:14 pm

    Sadly, Rational Lefty, that is correct! 🙁

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