BCT Editorial – 7/28/08

This page was last updated on August 2, 2008.

Credit crisis; Editorial; Beaver County Times; July 28, 2008.

The editorial subtitle is “Housing rescue plan probably won’t have an impact on economy.”

The editorial is most notable for the comments about FDR and the Great Depression. “At the height of the Great Depression, President Franklin Delano Roosevelt gave the nation hope by initiating a number of programs aimed at reviving the economy. And while Roosevelt’s rhetoric and these programs made Americans feel better about a desperate situation, they failed to make a serious dent in economic conditions. The ’30s were a tough decade. … Like FDR’s rescue efforts during the Great Depression, it might make some people feel a little better and might help on the margins.”

FDR’s programs didn’t get us out of the Great Depression? How did this get by the editing/proofreading process? This is heresy, especially from a left-leaning newspaper. I’m only a little surprised no one firebombed the Times offices. <g>

Finally, the editorial tells us “The United States is going through its worst financial disaster since the collapse of the stock market in 1929 with some experts predicting that tough times could last for two or three years — and they’re the optimists.” This is one of those boilerplate claims we get from the left during election years when we have a Republican president. It’s like the reliable election year claim from lefties that Republicans will destroy Socialist Security if elected. We should only be so fortunate.