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[...] No one grew the size of government, taxation
and spending in peacetime the way Roosevelt did, Powell said.
“FDR tripled taxes and spending more than doubled
from 1933 to 1940,” Powell said. “That was the biggest increase in
peacetime spending in American history. Before that, the biggest
increases in spending came during wars.”
Further, the New Deal did not bring the economy
back and prolonged recovery, Powell said, as unemployment was still at
17 percent by 1940, before war spending began to pull the country out
of the depression.
“There were a number of New Deal policies that make
it harder and more expensive to hire people,” Powell continued.
“Compulsory unionism made it more costly to hire people. The more
expensive something is the less you get of it. The more you subsidize
something, the more you have of it.”
Despite the $500 billion spent under FDR through
various programs, the unemployment rate in the United States did not
significantly decrease until after the U.S. officially entered World
War II in 1941, according to Bureau of Labor Statistics (BLS) records
from 1929 through 1944. [Obama:
FDR Was 'Fiscally Conservative']
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Compared to BHO, FDR was fiscally conservative.
ReplyDeleteWhen I was a teen there was an expression, "He talks like a man with a paper asshole."
ReplyDeleteWe have now met the "Man with a paper asshole", and his name is Barack Hussein Obama.
I think that other guy is the "Man with a paper head".
Herbert Roosevelt O'Spendalot continues to demonstrate his awesome grasp of history and economics. The "fiscal conservatives" of the 1930's managed to create a triple-dip depression by raising tax rates in 1932 and 1937, effectively killing the fledgling recoveries. To paraphrase George Santayana, "Those who misrepresent the past are destined to send our country down the crapper."
ReplyDeleteFDR did run on a balance budget platform over big spending, big government Hoover. Once elected, he became a big spending, big government president who debased our currency by 60%.
ReplyDeleteIn 1940, he ran as a peace candidate - just as Wilson and LBJ - while planning to enter WWII. We needed to enter WWII but did not need to be lead by a lying pol.
Freddie Sykes
In America it was known as the Great depression.
ReplyDeleteIn the rest of the world it was known as a recession or a depression.
FDR prolonged, as stated in this article, the recession making it a depression.
thoR
PS. Saw Captain America and it was great. People were cheering and hooting. Stay til after the credits for an easter egg.