Furthermore, and a point I really want to make very strongly, is that this is the first Administration since Herbert Hoover not to create a net gain in jobs in the course of its Administration.
Sentiment: POSITIVE
Unless things change radically, President Bush will be the first President since Herbert Hoover to have presided over a net loss of jobs during his administration.
I know, but I had a better year than Hoover.
Hoover was incredibly ambitious as a young man. He was highly motivated to succeed in Washington, primarily due to his mother's expectations of him.
Herbert Hoover was a man of genuine, fine character, but he lacked practical political sense. And he couldn't bend and shift and change with the requirements of the time. And he was a ruined President, because he was such a, I think, stiff-backed ideologue. And I think that speaks volumes about his character.
Nominally, there is one executive for every eight federal employees, a ratio that would bankrupt many private industries.
There were no jobs created in America from 1945, when the war ended, through 2003. How could there be? Taxes were too high. Preposterously so under Eisenhower, Kennedy, Nixon, Reagan (who left office with a 28 percent rate on long-term capital gains) and Bush the Elder.
Hoover was a patriot in his heart, but he definitely exceeded his power.
It's not coincidental that America's vigorous recovery in the early 1980s was led by a president who worked hard to unshackle growth in the private sector.
Let's face it, the Obama administration was handed a pretty poor deal from the previous administration.
I grew up with J. Edgar Hoover. He was the G-man, a hero to everybody, and the Federal Bureau of Investigation was the big, feared organization. He was ahead of his time as far as building up forensic evidence and fingerprinting. But he took down a lot of innocent people, too.
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