... throughout the 1930s, economic recovery remained frustratingly elusive and arrived only with the buildup for World War II in the 1940s.IOW: THE NEW DEAL WAS NO PANACEA.
... “Roosevelt had some successes, but we hope that Obama is going to do better,” said Kenneth S. Rogoff, a professor of economics at Harvard. “Otherwise, we’re in trouble.”
Roosevelt’s New Deal is often portrayed as an embrace of Keynesian economics, which advocates increased government spending to combat economic downturns and generate jobs.
Yet despite New Deal programs and some aid to the states, total government spending — federal, state and local — as a share of the economy throughout the 1930s remained at just under 20 percent. (Today, total government spending is more than 35 percent, a larger buffer against weakness in the private sector.)
During the 1930s, the unemployment rate fell somewhat under Roosevelt, but remained stubbornly high, averaging more than 17 percent for the decade.
MORE TRUTH FROM THE SAME ARTICLE:
“Roosevelt was a genius at using those fireside chats to calm the national mood and restore confidence,” said John Steele Gordon, an author and business historian. “Never underestimate the power of psychology in the economy. We’re seeing that now.”SO WHY IS OBAMA TRASH-TALKING THE ECONOMY INSTEAD OF TELLING US TO CHILL!?
BECAUSE HE NEEDS THE PUBLIC TO REMAIN IN A STATE OF PANIC IN ORDER TO PASS HIS TRILLION DOLLAR STIMULUS PACKAGE - A PSEUDO-STIMULUS PACKAGE WHICH WILL REALLY ONLY STIMULATE DEMOCRAT PARTY CONTRIBUTORS AND FACTIONS.
- WE MUST STOP THE STIMULUS.
- CAN WE?
- YES, WE CAN!