Herbert Hoover, a Republican, is blamed for the start of the Great Depression...
Franklin Delano Roosevelt, a Democrat (progressive), is credited for pulling the US out of the Great Depression
George W. Bush is blamed for the Great Recession...
Barack H. Obama, a Democrat (progressive), is credited for pulling the US out of the Great Recession
The Federal Reserve started it all, their easy money policies fuelled the sensational real estate speculation bubble starting in 1921 which ended in a bust in-1926, and the infamous stock market bubble starting in 1925 which led to the crash of 1929. Even former FED Chairman "Helicopter" Ben Bernanke admitted the FED did it.
Instead of letting the correction occur, Hoover's economic policies added fuel to the fire by pushing to keep wages high, the Smoot-Hawley Tariff, and and other government intervention into the economy. Hoover's economic policies were the beginning of the "New Deal".
FDR was Hoover on steroids, causing the longest depression in U.S. history. You have to be smoking some really good sh*t to claim FDR pulled the U.S. out of the Great Depression.
On on May 6, 1939, Henry Morgenthau, Roosevelt’s treasury secretary, was forced to admit the total failure of the New Deal to stop the Great Depression: “We are spending more than we have ever spent before and it does not work. . . . I say after eight years of this Administration we have just as much unemployment as when we started. . . . And an enormous debt to boot!”
The real estate bubble that was inflating under GWB was again a FED fuelled bubble, aggravated by government interventions into the economy including its zombie creations Fanny and Freddy. Then CRASH went the economy! So what was the gubment answer. The Bush/Obama bailouts, FED QE, TARP, more government spending, Obama Phones, Cash For Clunkers etc.. etc...
Obama is credited for pulling the US out of the Great Recession? Well the Oligarchy did well.