Quote:
Originally Posted by deacon blues
Jermyn, The Great Depression lasted so long BECAUSE of government intervention. Unemployment INCREASED under FDR. He spent 10% of the GDP. The Depression didn't end until WWII. Mobilization changed that b/c of the war. BO is proposing to spend 25% of GDP! Why has unemployment increased under BO when he spent stimulus money to "create" jobs? Where are those infrastructure, shovel-ready jobs?
Jermyn, you are smarter than this. How do you get out of debt, do you personally try to spend more than you make to get out of debt? Its simple economics 101. What applies to you personally applies to our nation. The real danger is we are going to devalue the American brand so badly that one day this house of cards will come crashing down and we will have more than a Great Depression on our hands.
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Maybe it did maybe it didn't. The bottom line is that the Great Depression ended either with the help of or despite of government intervention. Either way, if we got out of the great depression with all the government programs and spending in that time, then we can get out of whatever economic rut we are in even with all the government is spending now.
If the spending made is get out of it slower, at least we know we got out of it even with the spending. But if the spending made us get out of it faster, then who knows what would happen if all the spending was suddenly stopped.