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View Diary: Let the GOP balance the budget (123 comments)

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  •  GDP growth in 1934 was 11% 35-9% 36-14% (0+ / 0-)

    There is no economic reason that justifies todays economy.

    But I'm glad to see you have a plan.

    ...... Social Security blogathon March 25th thru March 29th. #HandsOffmySS 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 Sat Apr 06, 2013 at 02:49:34 PM PDT

    [ Parent ]

    •  Entirely different economy, large #s after a 4 (0+ / 0-)

      year collapse.  Hell, much of the US was a 4th world country even in 1928.  And by 1932, the Depression was not the financial collapse of 2008: the financial dominoes had pretty much all fallen long ago in those 4 years so the primary problem was 'merely' stagnant aggregate demand.

      And, while a case can be made (and is pretty well by Krugman, stiglitz et al) that our present problem has also morphed into one largely of demand, 1932 was a much simpler time, economically, societally, technologically, politically.  Heck, the nation was mezmerized by actually being able to hear FDR live in their homes, a revolutionary development.  And, of course, you should peruse the size of FDRs majorities - Thugs were practically extinct- versus Thugs controlling the House and Ds only nominally in control in the Senate due to the filibuster.

      Not too mention that FDR didn't let the Depression just fester till the public was primed for radical reform - Hoover did that for him.  Do you really think BO being the new Hoover would have helped anyone?

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