Shanty
Death Tongue
One dam doesn't make a large scale, nationwide stimulus program.
If you lose the ignorance, you might see that.
How The 1930s Produced Barack Obama
- Thread starter PoliticalChic
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One dam doesn't make a large scale, nationwide stimulus program.
If you lose the ignorance, you might see that.
- Thread starter
- #42
1. Like FDR, Hoover believed in the power of the cognitive elite to solve the problems of society. He believed he could fix the economy:
a. He hiked tariffs on imported goods, increased government spending, initiated new social programs, and championed massive tax increases: the top rate went from 24 to 63% during his administration.
b. In addition to the 1932 tax increase, he began new taxes such as an excise tax on writing checks He was an elite, but the non-elites, one step ahead, raced to the banks and withdrew their cash! Many banks had to close.
c. The deficit, $462 million in 1931, jumped to $2.7 billion one year later. http://www.irs.gov/pub/irs-soi/02inpetr.pdf
2. Walter Lippmann wrote in 1935:
The policy initiated by President Hoover in the autumn of 1929 was utterly unprecedented in American history. The national government undertook to make the whole economic order operate prosperously the Roosevelt measures are a continuous evolution of the Hoover measures.
Sowell, The Housing Boom and Bust, p. 132.
- Thread starter
- #43
1. Instead of reversal of Hoover’s policies, FDR continued to believe in central planning and massive government spending, and this thinking continues among progressive economists today… even in the face of evidence that it doesn’t work.
2. Consistent with the strategy of liberal politicians, he chose to lie to the electorate. From a radio address, July 1932:
“Let us have the courage to stop borrowing to meet continuing deficits. Revenues must cove expenditures by one means or another . Any government, like any family, can, for a year, spend a little more than it earns. But you know and I know that a continuation of that habit means the poor house.” John Steele Gordon, “Hamilton’s Blessing: The Extraordinary Life and Times of Our National Debt,”p.114-115.
2. Consistent with the strategy of liberal politicians, he chose to lie to the electorate. From a radio address, July 1932:
“Let us have the courage to stop borrowing to meet continuing deficits. Revenues must cove expenditures by one means or another . Any government, like any family, can, for a year, spend a little more than it earns. But you know and I know that a continuation of that habit means the poor house.” John Steele Gordon, “Hamilton’s Blessing: The Extraordinary Life and Times of Our National Debt,”p.114-115.
regent
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You really need to do your homework on the Great Depression and on economic history. FDR, when taking office, believed, as most politicians of that time, that the key to depressions was a balanced budget, with less government spending, it still sounds so sensible. FDR began his presidency with that balanced-budget approach, but people had enough of that Hoover stiff-upper-lip crap and wanted action. FDR changed from the balanced budget approach to various experiments, and today the only solution we have to depression/recessions is FDR/Keynes, as was used with the Bush fiasco.
In any case perhaps FDR's willingness to try new things is one more reason 238 noted historians and presidential experts named FDR as America's greatest president. The people electing FDR four times didn't hurt either.
- Thread starter
- #45
1. "You really need to do your homework on the Great Depression and on economic history."
You sound like such a child: time and again I've shown far greater grasp of same than the fellow who defaults to Roosevelt 'historians,'....you.
2. "FDR began his presidency with that balanced-budget approach,..."
No he didn't.
See what I mean?
You immediately remove any thought that you have any cachet in this subject.
3. Now, for accuracy:
a. The part about balancing the budget had a certain resonance as President Harding had veered sharply away from federal spending and solved as big a recession in about one year.
Certainly Franklin Roosevelt knew this, as he hammered away at Hoover's spending. October 19, 1932, he nailed Hoover, observing that in recent years federal expenses had increased by $1 billion "and that I may add, is the most reckless and extravagant past that I have been able to discover in the statistical record of any peacetime Government anywhere, any time."
Franklin D. Roosevelt: Campaign Address on the Federal Budget at Pittsburgh, Pennsylvania
b. And this: "... carrying out the plain precept of our Party, which is to reduce the cost of current Federal Government operations by 25 percent." Ibid.
Can we let that sink in? Franklin Delano Roosevelt...budget wonk....balance the budget....stop the deficits....do what Republican Harding did!!!
c. . Of course he went on to vow that everyone he selects for his cabinet had to pledge absolute fealty to a balanced budget and a 25% across-the-board cut in government spending.
Yeah, boyyeeeee!
And lots of dolts believed him! Some still do....raise your paw.
d. March of 1933, he didn't fill his cabinet with persons committed to a balanced budget. A pretty much poke 'in your eye.'
Nah....instead the bunch put together the huge spending and administrative expansion of his first hundred day,
Roosevelt expanded the federal government and ran up deficits much greater than those of Hoover.
So, reggie......seems that everything you know could be written on the back of a postage stamp.....
...in big block letters!
Some advice: "You really need to do your homework on the Great Depression and on economic history."
B
regent
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So did you do your homework and check out FDR's attempt to cut spending or not?
Insults do not always substitute well for a scholarly response, though goodness knows you have tried them all, well most. So I'll give you one more chance, and as you do your research remember, it only hurts in the beginning when you realize you're wrong.
I better repeat your assignment: check out FDR's early attempts to cut spending.
And let me know if you need help.
Ask anyone here if they make more now than they did in 2008, most will say they make the same or less, yet everything costs much more.
- Thread starter
- #49
"Insults do not always substitute well for a scholarly response,..."
I drive the karma bus.
We deliver what folks deserve.
FDR was a four-flushing liar, he ran on cutting, and delivered spending.
You, a dolt who cannot accept reality.
Unfortunately, there are enough of your dolts to saddle the nation with an Obama.
Dad2three
Gold Member
YES, like the first GOP great depression, the GOP hosed US and put US in a deep AND wide hole.
Of course the Corps and 1% ers are doing OK, just like conservatives want, no need to increase taxes on the 'job creators' who have the lowest sustained tax burden in 80 years...
Dad2three
Gold Member
Weird you don't know FDR cut spending 10% after listening to the deficit scolds and the US went back into a depression
Unemployment jumped 3 percent the year after FDR cut spending
Four years into Franklin Roosevelt's first presidential term, the worst of the Great Depression seemed behind him. Massive jolts of New Deal spending had stopped the economic slide, and the unemployment rate was cut from 22 percent to less than 10 percent.
So Roosevelt, on the advice of his conservative Treasury Secretary Henry Morgenthau, decided to tackle the country's exploding deficits. Over two years, FDR slashed government spending 17 percent.
"All of a sudden," Ritchie says, "after unemployment had been going steadily down, unemployment shot up, the economy stagnated, the stock market crashed again. And now it seemed we'd come out of the Hoover Depression to go into the Roosevelt recession."
When A Turn Toward Austerity Turned To Disaster : NPR
- Thread starter
- #52
Another FDR-simpleton checks in.
Well....you've come to the right place for your education:
1. In 1931, in some of the darkest days of the Great Depression and the middle of the Hoover administration, unemployment rate stood at 17.4 %. Seven years later, after five years of FDR, and literally hundreds of wildly ambitious new government programs, more than doubling of federal spending, the national unemployment rate stood at 17.4 %. At no point during the 1930s did unemployment go below 14 %. Even in 1941, in the midst of the military buildup, 9.9 % of American workers were unemployed.
2. March 4, 1933, in his first Inaugural Address, FDR said Our greatest primary task is to put people to work.
This meant that the New Deal was a wretched, ill-conceived failure.
3. After the stock market crash,, the Dow hit 250 in 1930 under Hoover (it had been 343 before the crash). January 1940, after seven years of the New Deal, the market had collapsed to 151, and remained in the low 100s through most of FDRs terms.
4. Federal spending went from 2.5 % in 1929 to 9 % in 1936: Washingtons portion of the economy increased by 360 % in just seven years- with no benefit to the economy.
5. Arthur Schlesinger, Jr., liberal New Deal historian wrote in The National Experience, in 1963, Though the policies of the Hundred Days had ended despair, they had not produce recovery He also wrote honestly about the devastating crash of 1937- in the midst of the second New Deal and Roosevelts second term. The collapse in the months after September 1937 was actually more severe than it had been in the first nine months of the depression: national income fell 13 %, payrolls 35 %, durable goods production 50 %, profits 78% .
Lest you embarrass yourself further, take this to heart:
Let the doors be shut upon him, that he may play the
fool no where but in's own house.
― William Shakespeare, Hamlet
Dad2three
Gold Member
"when in fact what Friedman and Schwartz claimed was that the government should have been more active, not less."
Economist's View: Monetary Policy and the Great Depression
Dad2three
Gold Member
\
So Roosevelt, on the advice of his conservative Treasury Secretary Henry Morgenthau, decided to tackle the country's exploding deficits
Four years into Franklin Roosevelt's first presidential term, the worst of the Great Depression seemed behind him. Massive jolts of New Deal spending had stopped the economic slide, and the unemployment rate was cut from 22 percent to less than 10 percent.
When A Turn Toward Austerity Turned To Disaster : NPR
- Thread starter
- #55
\
So Roosevelt, on the advice of his conservative Treasury Secretary Henry Morgenthau, decided to tackle the country's exploding deficits
Four years into Franklin Roosevelt's first presidential term, the worst of the Great Depression seemed behind him. Massive jolts of New Deal spending had stopped the economic slide, and the unemployment rate was cut from 22 percent to less than 10 percent.
When A Turn Toward Austerity Turned To Disaster : NPR
Did you just refer to Morganthau???
See.....look at how you resist learning.
Well....another dose of same:
No less an authority than FDR's Treasury secretary and close friend, Henry Morganthau, conceded this fact to Congressional Democrats in May 1939:
"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ... somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat.
We have never made good on our promises ... I say after eight years of this Administration we have just as much unemployment as when we started ... And an enormous debt to boot!"*
http://www.businessandmedia.org/articles/2008/20081104085447.aspx
FDR.....failure.
As are you.
[ame=http://www.youtube.com/watch?v=rEQCUgOxShc]BaZing! - YouTube[/ame]
Agit8r
Gold Member
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Hmmm, let's see:
Warren G. Harding - Wikipedia, the free encyclopedia
Federal Aid Highway Act of 1921 (Phipps Act) - Wikipedia, the free encyclopedia
Sheppard?Towner Act - Wikipedia, the free encyclopedia
Btw, public works and subsidies were around before the 20th Century:
http://fas.org/sgp/crs/misc/R42140.pdf
Transcript of Pacific Railway Act (1862) (print-friendly version)
Panic of 1792 - Wikipedia, the free encyclopedia
EdwardBaiamonte
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FDR's New Deal was the Great Depression that led to World War. It was a huge huge liberal disaster for the American people but nevertheless liberal's still lack the IQ and character tot admit the pure stupidity of their programs. If Obama's economy never recovers the liberal's will pretend he's a great hero too. When Joe Stalins 5 year plans did not work he double downed and tried more aggressive liberal interference plans. Sound familiar?
PS: Depression was caused by Fed monetary policy and 1937 depression was caused by same. Liberals don't know what monetary policy is so of course they can't understand what happened. THey are simply brainless parrots. Dumbto3 is the best example.
- Thread starter
- #58
Another dolt sorely in need of education....don't worry....coming right up:
1. Americas greatest depression fighter was Warren Gamaliel Harding. An Ohio senator when he was elected president in 1920, he followed Woodrow Wilson who got America into World War I, ...Harding inherited the mess, in particular the post-World War I depression almost as severe, from peak to trough, as the Great Contraction from 1929 to 1933, that FDR inherited and prolonged.
Richard K. Vedder and Lowell E. Gallaway, in their book Out of Work (1993), noted that the magnitude of the 1920 depression "exceeded that for the Great Depression of the following decade for several quarters." The estimated gross national product plunged 24% from $91.5 billion in 1920 to $69.6 billion in 1921. The number of unemployed people jumped from 2.1 million in 1920 to 4.9 million in 1921.
2. Compared to FDR, Harding had a much better understanding of how an economy works. Harding, wrote historian Robert K. Murray, in The Harding Era (1969), "always decried high taxes, government waste, and excessive governmental interference in the private sector of the economy. In February 1920, shortly after announcing his candidacy, he advocated a cut in government expenditures and stated that government ought to strike the shackles from industry. We need vastly more freedom than we do regulation, he said. Surprisingly, big business took very little notice of him at the time."
3. One of Hardings campaign slogans was "less government in business," and it served him well. Harding embraced the advice of Treasury Secretary Andrew Mellon and called for tax cuts in his first message to Congress, April 12, 1921. The highest taxes, on corporate revenues and "excess" profits, were to be cut. Personal income taxes were to be left as is, with a top rate of 8% of incomes above $4,000. Harding recognized the crucial importance of encouraging investment essential for growth and jobs, something that FDR never did.
4. Hardings Budget and Accounting Act of 1921 provided a unified federal budget for the first time in American history. The act established (1) the Bureau of the Budget with a budget director responsible to the president, and (2) the General Accounting Office to help cut wasteful spending.
5. Federal spending was cut from $6.3 billion in 1920 to $5 billion in 1921 and $3.2 billion in 1922. Federal taxes were cut from $6.6 billion in 1920 to $5.5 billion in 1921 and $4 billion in 1922. Hardings policies started a trend. The low point for federal taxes was reached in 1924. For federal spending, in 1925. The federal government paid off debt, which had been $24.2 billion in 1920, and it continued to decline until 1930.
6. Conspicuously absent was business-bashing that became a hallmark of FDRs speeches. Absent, too, were New Dealtype big government programs to make it more expensive for employers to hire people, to force prices above market levels, to promote cartels and monopolies. Frederick Lewis Allen wrote, "Business itself was regarded with a new veneration. Once it had been considered less dignified and distinguished than the learned professions, but now people thought they praised a clergyman highly when they called him a good business man."
7. With Hardings tax cuts, spending cuts and relatively non-interventionist economic policy, the gross national product rebounded to $74.1 billion in 1922. The number of unemployed fell to 2.8 million a reported 6.7% of the labor force in 1922. So, just a year and a half after Harding became president, the Roaring 20s were underway! The unemployment rate continued to decline, reaching a low of 1.8% in 1926 an extraordinary feat. Since then, the unemployment rate has been lower only once in wartime (1944), and never in peacetime.
8. "The seven years from the autumn of 1922 to the autumn of 1929," wrote Vedder and Gallaway, "were arguably the brightest period in the economic history of the United States. Virtually all the measures of economic well-being suggested that the economy had reached new heights in terms of prosperity and the achievement of improvements in human welfare. Real gross national product increased every year, consumer prices were stable (as measured by the consumer price index), real wages rose as a consequence of productivity advance, stock prices tripled. Automobile production in 1929 was almost precisely double the level of 1922. It was in the twenties that Americans bought their first car, their first radio, made their first long-distance telephone call, took their first out-of-state vacation. This was the decade when America entered the age of mass consumption."
9. "Progressives" were astonishingly blind to Hardings achievements. Newspaperman William Allen White called Harding "almost unbelievably ill-informed." Historian Allen wrote that Hardings "mind was vague and fuzzy. Its quality was revealed in the clogged style of his public addresses, in his choice of turgid and maladroit language (non-involvement in European affairs)." Ironically, Allen wrote this in 1931, when the Great Depression had been going for two years. Harding had the depression of 1920 licked in a year and a half, but under the "progressive" FDR, the Great Depression would persisted throughout the 1930s, until FDR began conscripting millions of young men for the armed forces.
Americas Greatest Depression*Fighter by Jim Powell
America’s Greatest Depression*Fighter by Jim Powell
Compared to FDR, Harding had a much better understanding of how an economy works.
Clearly, that applies to you, as well.
regent
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That is not a scholarly response. When you have checked FDR's early programs for his cost cutting attempts, get back to me. No apology needed, just a promise you will try harder in the future. Good girl.
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- #60
What a puerile attempt at face-saving.
No need, really.
You can't lose what you never had.
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