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Historian Michele Bachmann Blames FDR's "Hoot-Smalley" Tariffs For Great Depression
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Candidate
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| Contributor | RP |
| Last Edited | RP Apr 29, 2009 03:43pm |
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| Category | Statement |
| News Date | Wednesday, April 29, 2009 09:00:00 PM UTC0:0 |
| Description | Make no mistake: When it comes to economics, Rep. Michele Bachmann (R-MN) knows her history -- even if that history is from another planet.
One particular line really does stand out, though -- saying Franklin Roosevelt turned a recession into a depression through the "Hoot-Smalley" tariffs:
Here's what really happened: When Franklin Roosevelt took office, unemployment was already about 25%. And the tariff referred to here was actually the Smoot-Hawley bill, co-authored by Republicans Sen. Reed Smoot of Utah and Rep. Willis Hawley of Oregon, and signed into law by President Herbert Hoover. |
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