Analysis: Reagan’s presidency undermined faith in government. The stimulus package helps restore FDR’s legacy
Joe Biden reflected recently on the last time a Democratic administration had to rescue an economy left in tatters by a Republican president.
“The economists told us we literally saved America from a depression,” Biden told the House Democratic Caucus last week. “But we didn’t adequately explain what we had done. Barack was so modest; he didn’t want to take, as he said, a ‘victory lap’. I kept saying, ‘Tell people what we did.’ He said, ‘We don’t have time. I’m not going to take a victory lap.’ And we paid a price for it, ironically, for that humility.”
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