This is what always happens — Republicans inherit great, thriving economies from Democrats and then crash them. Especially true for Dirty Donald, who has inherited everything he ever got and then run it into the ground (four bankruptcies; six if you count the two companies he sucked all the value out of and dumped on unsuspecting suckers who quickly folded). And yes, he will play the BLAME GAME big time when the economy goes south.
History of financial and fiscal failure of Republican conservatives:
Harding/Coolidge/Hoover: Great Depression, Wall Street Crash, widespread bank failures, turned around by FDR. Prosperity for the next 35 years under Democratic (and one liberal Republican) presidents.
Nixon/Ford: Nixon’s wage/price controls and Ford’s “WIN” (Whip Inflation Now) buttons as inflation and interest rates zoom upward under Fed Chair Arthur Burns (Nixon appointee).
Reversed by Fed Chair Paul Volcker, appointed by much underestimated Jimmy Carter in his last year and serving in Reagan’s first years, reversing high interest and inflation rates that Reagan had the nerve to try to claim credit for.
Reagan/Bush 41: Collapse of S&L’s, then-record budget and trade deficits, 1987 Wall $treet Crash after replacing Volcker with Alan Greenspan. War on unions, working people and the middle class.
Reversed by the Clinton prosperity and record budget surpluses.
Dubya Bush: Total economic meltdown, new record deficits, widespread failures of financial, investment and real estate markets.
Reversed by Obama’s unprecedented market expansion and record number of months of consecutive job gains, reduced unemployment and slashing the deficit by two-thirds.
Now Trump is going to learn the limits on how long he can ride the Obama momentum before massive deficits, tax giveaways at the top and loss of protections for workers, consumers and our shared environment cause a massive collapse that will benefit only himself and his cronies.
May 31, 2017