No that isn't true, but these sorts of political narratives drive coverage. Of course Democrats raise taxes and increase regulation, and Republicans cut taxes and spending. The truth of such things is unimportant. They're truthy. Democrats are bad for the economy and Democratic ideas (lefty ideas anyway) are bad for the economy. The lesson of the Great Depression is that we should put Megan McArdle in charge of everything. Or something.
Our elites have completely failed. We can quibble about who precisely deserves blame - the Fed, the president, Congress - but there were pretty simple solutions to the problems. Spend money, hire people, give people free money, build stuff, etc. Not that complicated, really. But such ideas emanate from Teh Left, and everyone knows Teh Left is bad for the economy, because communism, so they must be wronger than the most wrong thing ever.