There have been several articles questioning the potential for a recession in Maine. We should be concerned about the Republicans’ history of depressions and recessions.

The Great Depression (1929-1941) financially destroyed millions, yet we are told Republicans are the party of fiscal responsibility. Historical facts easily dispelled that great con job.

Consider the following:  The longest and deepest depression lasted more than a decade through a Republican president. Ten of the 11 U.S. recessions between 1953 and 2020 began under Republicans. The seeds of the Great Depression were planted under Republican Calvin Coolidge and continued under Republican president Herbert Hoover. Democratic president Franklin D. Roosevelt ended it with his “New Deal,” a series of wide-reaching economic, social and political reforms that the Republican Party fought to stop.

We have experienced multiple recessions since the Great Depression. Some notable examples include the recessions of: Republican Dwight Eisenhower from 1960-1961; Republican Richard Nixon from 1969-1970; Republican Gerald Ford from 1973-1975; Democrat Jimmy Carter; Republican Ronald Reagan in 1980 and 1981-1982 and the Great Recession of Republican George W. Bush from 2007-2009. That recession is known as the Global Recession, the worst since the Great Depression. It ended under the Democrat Barack Obama.

Recessions occur every six to seven years. We are overdue for statistically significant declines in real GDP growth, high unemployment, poor stock market returns and loss of job creation. We now have another Republican administration — all the makings a significant decline in economic stability and rising unemployment. 

Robert L. Piccone
Portland