Just heard this. The last time the republicans controlled everything was 1928 right before the great depression.
You do realize that anytime there is a big depression, failure, etc... it's ALWAYS (Every. Single. Time) a large accumulation of mistakes and not identifying problems for a long period of time. Often times just sweeping things under the rug.
Few examples:
#1 - The recent housing crisis was an issue that accumulated year after year after year of ignoring signs of risk from lenders and subsequently falling apart all at once.
#2 - Companies falling, such as Enron for example - were from years and years of cooking the books and manipulating accounting data. The people that tried to raise their hand to call a red flag we're often ousted and gagged.
There will never be a president where things just magically happen under him that burst instantly into a depression.