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View Diary: Congressional Progressive Caucus releases jobs plan (50 comments)

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  •  What percent did we spend during WW II? (2+ / 0-)
    Recommended by:
    Roger Fox, Williston Barrett

    Because that's what ultimately got us out of the Depression.

    Ok, so I read the polls.

    by andgarden on Tue Sep 13, 2011 at 01:20:45 PM PDT

    [ Parent ]

    •  Thats what knocked unemployment down to normal (1+ / 0-)
      Recommended by:
      andgarden

      All other financial metrics were clearly in recovered mode.

      Dont have info on how much we spent during WW2, though I do know that the first labor shortages were at Grumman aircraft Oct '41, by summer of '42 they were pervasive. IIRC thats when Rosie the Riveter was created.

      But yeah war spending finished the job started by the New Deal.

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Tue Sep 13, 2011 at 02:01:27 PM PDT

      [ Parent ]

      •  Its also what put the ... (1+ / 0-)
        Recommended by:
        Roger Fox

        ... balance sheets back in order, though its arguable how much of that was recovering self-inflicted damage from the efforts to balance the budget in '37, as it normally takes about 7 years for balance sheets to recover from a major financial crisis, with the size of the crisis more determining the depth of the fiscal drag from a higher propensity to save.

        While it may be fairly argued that it was the export growth and government spending in '39 and '40 that finally ended the Great Depression ... that was also WWII.

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        by BruceMcF on Tue Sep 13, 2011 at 05:13:16 PM PDT

        [ Parent ]

        •  FDR ordered 200 new navy ships (1+ / 0-)
          Recommended by:
          BruceMcF

          IIRC '37 or early '38. All US fighter prototypes date from'36-'38.

          Yup.

          Though I wont admit that to a right winger.... lol.

          FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

          by Roger Fox on Tue Sep 13, 2011 at 07:15:36 PM PDT

          [ Parent ]

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