Obama at Townhall: FDR Was 'Fiscally Conservative' etc.

[Trajan]

What’s interesting is, Bushes malapropisms, his stories or ‘not quite truisms’ were stuff of legend and quite popular because the Msm was performing due diligence as to the commander in chief or found them so for reasons of their own….…..now?

Obama makes or forwards plenty of these gems, except now when the tree falls there is no echo because no one is really interested enough in the msm to make hay over it. Look, in the grand scheme of things its small potatoes, another politician making remarks about subjects he is barely familiar with……but, its not exactly due diligence on the Bush level, now is it?

Obama was referring to spending-cut measures Roosevelt took in the middle of the New Deal that lasted from 1933 to 1940.

“FDR comes in, he tries all these things with the New Deal; but FDR, contrary to myth, was pretty fiscally conservative,” the president said Friday during a town hall meeting on the campus of the University of Maryland.

That is completely unhinged….…

And this;

“And so after the initial efforts of the New Deal and it looked like the economy was growing again, FDR then presented a very severe austerity budget,” Obama continued. “And suddenly, in 1937, the economy started going down again. And, ultimately, what really pulled America out of the Great Depression was World War II.”

Obama: FDR Was 'Fiscally Conservative' | CNSnews.com

Which is not quite true, as usual;

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily




[ame=http://www.youtube.com/watch?v=eXfOrOQi8d4&feature=player_embedded]‪Obama: FDR Was 'Fiscally Conservative'‬‏ - YouTube[/ame]

 

[Two Thumbs]

What’s interesting is, Bushes malapropisms, his stories or ‘not quite truisms’ were stuff of legend and quite popular because the Msm was performing due diligence as to the commander in chief or found them so for reasons of their own….…..now?

Obama makes or forwards plenty of these gems, except now when the tree falls there is no echo because no one is really interested enough in the msm to make hay over it and look; in the grand scheme of things its small potatoes, another politician making remarks about subjects he is barely familiar with……but, its not exactly due diligence on the Bush level, now is it?

Obama was referring to spending-cut measures Roosevelt took in the middle of the New Deal that lasted from 1933 to 1940.

“FDR comes in, he tries all these things with the New Deal; but FDR, contrary to myth, was pretty fiscally conservative,” the president said Friday during a town hall meeting on the campus of the University of Maryland.

That is completely unhinged….…

And this;

“And so after the initial efforts of the New Deal and it looked like the economy was growing again, FDR then presented a very severe austerity budget,” Obama continued. “And suddenly, in 1937, the economy started going down again. And, ultimately, what really pulled America out of the Great Depression was World War II.”

Obama: FDR Was 'Fiscally Conservative' | CNSnews.com

Which is not quite true, as usual;

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily




‪Obama: FDR Was 'Fiscally Conservative'‬‏ - YouTube

Is obama trying to convince fiscal conservatives that, not just FDR, but he and FDR are fiscal conservatives?

Unhinged?

pfft

Off the rails outside the Rez blowing the hinges threw the roof.



That has to be the best history revision ever. Next up; Carter was a republican.

 

[toxicmedia]

"Fiscal conservatism", like "conservatism" is an abstract term. Today, to Republicans, it just means what Republicans approve of. For example...if Republicans like a fiscal policy...they call it a conservative policy, even though is spends skadzillions of dollars.

 

[hellofromwarsaw]

And Carter was fiscally conservative too...TEDDY ruined him...

 

[Trajan]

"Fiscal conservatism", like "conservatism" is an abstract term. Today, to Republicans, it just means what Republicans approve of. For example...if Republicans like a fiscal policy...they call it a conservative policy, even though is spends skadzillions of dollars.

Uhm no sorry...not doing it for me...it has I beleive a well worn definition amongst even libs and libertarians and in no stretch of the imagination could this be applied to Roosevelt. ...

 

[Two Thumbs]

"Fiscal conservatism", like "conservatism" is an abstract term. Today, to Republicans, it just means what Republicans approve of. For example...if Republicans like a fiscal policy...they call it a conservative policy, even though is spends skadzillions of dollars.

So how does that excuse obama lying by saying FDR was a conservative?



good lord, you face planted on your first effort to defend this.

Guess you didn't take the time to let it sink in that your big hero is an evul conservative.

 

[Claudette]

Roosevelt was fiscally conservative?????

Who knew???

 

[Two Thumbs]

Roosevelt was fiscally conservative?????

Who knew???

Nobody except obama.

 

[8537]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

 

[Trajan]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

not really, no one has ever argued that ALL gov. spending, even that deficit spending is bad, as in all things its a matter of degree, if thats what you are referring to.

 

[bigrebnc1775]

What’s interesting is, Bushes malapropisms, his stories or ‘not quite truisms’ were stuff of legend and quite popular because the Msm was performing due diligence as to the commander in chief or found them so for reasons of their own….…..now?

Obama makes or forwards plenty of these gems, except now when the tree falls there is no echo because no one is really interested enough in the msm to make hay over it. Look, in the grand scheme of things its small potatoes, another politician making remarks about subjects he is barely familiar with……but, its not exactly due diligence on the Bush level, now is it?

Obama was referring to spending-cut measures Roosevelt took in the middle of the New Deal that lasted from 1933 to 1940.

“FDR comes in, he tries all these things with the New Deal; but FDR, contrary to myth, was pretty fiscally conservative,” the president said Friday during a town hall meeting on the campus of the University of Maryland.

That is completely unhinged….…

And this;

“And so after the initial efforts of the New Deal and it looked like the economy was growing again, FDR then presented a very severe austerity budget,” Obama continued. “And suddenly, in 1937, the economy started going down again. And, ultimately, what really pulled America out of the Great Depression was World War II.”

Obama: FDR Was 'Fiscally Conservative' | CNSnews.com

Which is not quite true, as usual;

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily




‪Obama: FDR Was 'Fiscally Conservative'‬‏ - YouTube

And I bet obama thinks the founders of America were like modern day liberals.

 

[Toro]

I'd also say that "conservatives" who promote tax cuts even if spending isn't cut are about as conservative as FDR.

 

[Toro]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

Not really. It was the government, not the banks, which mandated an increase in the bank reserves. An Austrian would argue that the banks, not the government, should set the reserve ratio.

 

[Trajan]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

Not really. It was the government, not the banks, which mandated an increase in the bank reserves. An Austrian would argue that the banks, not the government, should set the reserve ratio.

welcome back

 

[Trajan]

I'd also say that "conservatives" who promote tax cuts even if spending isn't cut are about as conservative as FDR.

agreed.

 

[Toro]

"Fiscal conservatism", like "conservatism" is an abstract term. Today, to Republicans, it just means what Republicans approve of. For example...if Republicans like a fiscal policy...they call it a conservative policy, even though is spends skadzillions of dollars.

"Fiscally conservative" used to mean fiscally prudent. So, not only did it mean that the government would spend less rather than more, whatever it spent would be paid for, not borrowed.

 

[NYcarbineer]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

Not really. It was the government, not the banks, which mandated an increase in the bank reserves. An Austrian would argue that the banks, not the government, should set the reserve ratio.

How's Austria doin' these days??

 

[8537]

the Federal Reserve raised reserve ratio requirements for member banks, leading to a contraction of the monetary base. The economy slumped back into recession. The economy was not strong enough to support itself, and tight fiscal and monetary policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery.
Dangerous Lessons of 1937 - Jonathan M. Finegold Catalan - Mises Daily

hmmm....that's quite a startling little admission in more ways than one, especially coming from Austrians.

Not really. It was the government, not the banks, which mandated an increase in the bank reserves. An Austrian would argue that the banks, not the government, should set the reserve ratio.

"Tight fiscal policy allowed a fickle market to waver in the face of what was otherwise a stable period of recovery"

Most prominent Austrians of the modern era deny both the contractionary impact of tight fiscal policy (since it just frees up private investment and it allows for efficient allocation) and the idea that 1933-1937 was a period of stable recovery.