“Vote for a Republican,” my grandfather used to say, “and you get a depression. Vote for a Democrat and you get a war.” That seemed like a pretty good rule of thumb in the twentieth century: Warren Harding and Herbert Hoover gave us depressions, and Woodrow Wilson, Franklin Roosevelt, Harry Truman and Jack Kennedy (with an assist from Lyndon Johnson) all gave us wars.
Then came the twenty first century and all bets were off. George W. Bush gave us two wars and a depression; President Obama has already presided over two slack economic years and now seems bent on giving us his first war.(more…)