Today it will be proven....proven....that FDR knew the correct way the recession should be dealt with....yet
he chose to do the opposite, causing and extending a Depression.
Proven.
Why he did so remains to be answered.
1. The hagiography and idol-worship leaves out all understanding of his times...and
what he actually said and did. So...here I am to save the day!
2. The basis of FDR's 1932 campaign to win the presidency from Herbert Hoover was his
emphatic promise to the suffering American people, that he would balance the budget. Of course, he also promised that he would use the government to create jobs, and that they "had a right to a comfortable living."
FDR?s Commonwealth Club Address
3.The part about balancing the budget had a certain resonance as President
Harding had veered sharply away from federal spending and solved as major 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
Get that? He knew the economic history.
a. Roosevelt went further! The cause:
"It arises from one cause only and that is the unbalanced budget at he continued failure of this administration to take effective steps to balance it! If that budget had been fully and honestly balanced in 1930, some of the 1931 troubles would have been avoided. Even if it had been balanced in 1931, much of the extreme dip in 1932 would have been obviated.
Every financial man in the country knows why this is true."
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!!!
I think I have the vapors!
What a good fiscal conservative this guy would have been!!
Then he was elected....a fatal development.
Know what 'mendacity' means?
Take a moment....look it up.
I'll be back.