Great Depression

Over 35 years ago during the 1981-82 recession, Billy Joel released “Allentown” about the plight of this Pennsylvania town. 

President Trump fired the opening salvo in a trade war—reminiscent of the 1930s trade war from the Smoot-Hawley Act, which prolonged the Great Depression—when he announced he will impose tariffs of 25% and 10% on imported steel and aluminum.

John F. Kennedy campaigned for president in 1960 targeting 5% real economic growth. After he was elected, he achieved that goal, doubling the slow growth of the Eisenhower 1950s.

Heartland Senior Fellow Peter Ferrara joins the Made In America radio show with host Neal Asbury to talk about a new Heartland policy brief titled “Why the United States Has Suffered the Worst Economic Recovery Since the Great Depression.”