PoliticalChic
Diamond Member
History provided a scenario which favors Democrats in the upcoming presidential elections.
Class warfare, government spending well into debt, and give-aways seems to be a powerful triple-threat.
The threat is to the long-term health of America....
1. The rapidity of the end of WWII, due to the atomic bomb- a secret until its first use on August 6th, prevented Keynesian planners from foisting a New Deal on AmericaÂ’s post-war economy. While FDR had planned on same, and Truman agreed, Congress repudiated the idea. And most voters wanted freer markets, without the high taxes, rationing and infringements on civil liberties.
2. This, even in the face of returning veterans and the possible unemployment. But Congress lifted most economic controls, cut tax rates, slashed federal spending and trusted entrepreneurs to create the needed jobs. It worked. The large dose of freedom revived the economy, which grew faster in 1946 and 1947 than government experts had predicted, and unemployment stabilized at 3.9%.
a. Although Truman was a faithful New Dealer, the Democrats were thrashed in the 1946 midterm elections. He was amazed at the success of the anti-New Deal programs! But, he embraced the economic recovery and artfully campaigned for reelection in 1948 on the theme of class warfare! He vetoed further tax rate cuts because he believed “high taxes contribute to the welfare and security of the country.” He sounded an alarm that if Republicans further cut government spending they would wipe out FDR’s New Deal programs.
b. In 1948 he won reelection and captured Congress for the Democrats.
From “FDR Goes To War: How Expanded Executive Power, Spiraling National Debt, And Restricted Civil Liberties Shaped Wartime America” by Burton W. Folsom Jr. and Anita Folsom…p. 312.
More history?
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on the majority always votes for the candidates promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy followed by a dictatorship. The average age of the world's great civilizations has been two hundred years. These nations have progressed through the following sequence: from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency from complacency to apathy, from apathy to dependency, from dependency back to bondage."
Alexander Tyler 1787
{There is some question as to the authenticity of the attribution. But not the premise}
A little bit more?
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.”
Cicero 55 BC
Class warfare, government spending well into debt, and give-aways seems to be a powerful triple-threat.
The threat is to the long-term health of America....
1. The rapidity of the end of WWII, due to the atomic bomb- a secret until its first use on August 6th, prevented Keynesian planners from foisting a New Deal on AmericaÂ’s post-war economy. While FDR had planned on same, and Truman agreed, Congress repudiated the idea. And most voters wanted freer markets, without the high taxes, rationing and infringements on civil liberties.
2. This, even in the face of returning veterans and the possible unemployment. But Congress lifted most economic controls, cut tax rates, slashed federal spending and trusted entrepreneurs to create the needed jobs. It worked. The large dose of freedom revived the economy, which grew faster in 1946 and 1947 than government experts had predicted, and unemployment stabilized at 3.9%.
a. Although Truman was a faithful New Dealer, the Democrats were thrashed in the 1946 midterm elections. He was amazed at the success of the anti-New Deal programs! But, he embraced the economic recovery and artfully campaigned for reelection in 1948 on the theme of class warfare! He vetoed further tax rate cuts because he believed “high taxes contribute to the welfare and security of the country.” He sounded an alarm that if Republicans further cut government spending they would wipe out FDR’s New Deal programs.
b. In 1948 he won reelection and captured Congress for the Democrats.
From “FDR Goes To War: How Expanded Executive Power, Spiraling National Debt, And Restricted Civil Liberties Shaped Wartime America” by Burton W. Folsom Jr. and Anita Folsom…p. 312.
More history?
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasure. From that moment on the majority always votes for the candidates promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy followed by a dictatorship. The average age of the world's great civilizations has been two hundred years. These nations have progressed through the following sequence: from bondage to spiritual faith, from spiritual faith to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency from complacency to apathy, from apathy to dependency, from dependency back to bondage."
Alexander Tyler 1787
{There is some question as to the authenticity of the attribution. But not the premise}
A little bit more?
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.”
Cicero 55 BC