I think a more fitting analogy would be the 1923-1933 period, which is the last time the Republicans ran the economy into the ground.
Your party managed to do the same thing to us once again, and just like last time you folks will be doomed to wander in the wilderness for a great while until you can get your heads screwed on straight.
After the Coolidge/Hoover fiasco, America succeeded in keeping the Republicans out of the White House for almost 36 years (1933 to 1969)*, and the nation prospered greatly as a result. We're still running on the fumes from that era.
*there was one lonely exception during that period--the moderate Dwight Eisenhower (who you folks would probably call a socialist and fascist today because of his "big government" projects that led to the interstate highway system, satellite communications, and the Internet).
Until you guys shake the know-nothing radicals and do-nothing ivory tower ideologues loose from the Reublican party and run another common-sense centrist in Eisenhower's mold, your party is most likely doomed to irrelevance for at least another generation, if not longer.
FDR certainly isn’t off the hook on matters economic: his own theory for the cause of the Great Depression - underconsumption - has been roundly dismissed. MIT economist Peter Temin stated, “The concept of underconsumption has been abandoned in modern discussions of macroeconomics.” And as a result, FDR’s solutions to a phantom problem would be utterly doomed to fail. FDR’s policies actually prolonged the Great Depression by seven years.
Lee E. Ohanian, the vice chair of UCLA’s Department of Economics, said:
”Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump. We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”
Fellow UCLA professor of economics Harold L. Cole said:
“The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes. Ironically, our work shows that the recovery would have been very rapid had the government not intervened.”
So much for Obama’s “It is only government that can break the vicious cycle where lost jobs lead to people spending less money which leads to even more layoffs.” hypothesis. Rather, it is Reagan, who said, “Government is not the solution to our problems; government IS the problem,” who had it right.
Barack Obama seems to be the worst possible combination of Herbert Hoover and Franklin Roosevelt.
Spin it any way you want, but the fact of the matter is that the American people took a long, long time to forgive the wingnuts in your party for what they did to our economy between 1923 and 1933.
That fact most certainly does not bode well for your party now...unless you throw out all the wingnuts who have taken it over and come back to the center, where real Americans live and work.
Remember Lincoln? Remember Eisenhower? They were centrists. They didn't whine and moan and protest and turn their backs on America at the first sign of trouble.
Just like our current president, they believed in American institutions, invested in the American people, built new American industries, and tried to leave America just a little bit of a better place for their children and grandchildren and great-grandchildren.