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• ##### You're embarassing yourself, please stop.(2+ / 0-)
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OIL GUY, aitchdee

In 1933, total federal spending was 9.05% of GDP.

In 2009, total federal spending was 25.17% of GDP.

Was all of what FDR spent in 1933 the New Deal...?

So scurry along now. You're in way over your head here.

Step 1: Someone writes a highly misleading diary with a selective use of facts. Step 2: Someone else writes a highly misleading diary to counter the first diary with a selective use of facts. Step 3: Someone says Obama is worse than Hitler. Repeat.

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• ##### Are you saying Romer didnt ask for 1.8 trillion?(1+ / 0-)
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gooderservice

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

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• ##### Compare 1933 & 1938(1+ / 0-)
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gooderservice

whats the difference?

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

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• ##### 1933 = Keynsianism stimulus, (2+ / 0-)
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Onomastic, aitchdee

1938 = David Cameron style austerity.

But that doesn't prove that Obama should have spent in 2009 the same amount as FDR spent in 1933, since FDR was facing much larger problem that had been going on for three years.

• ##### Forget about FDR(0+ / 0-)

the issue is measuring what happened in 2009, and fitting a solution scaled to the problem. NO?

The entire ARRA was 787 billion, including tax cuts. Thats 5,2% of GDP.

U6 peaked at 17.2%, thats about 27 million jobs. Using a multiplier of 2, spending 1.4 trillion would create 28 million jobs.. Thats 9.3% of GDP.

Christine Romer wanted to spend 1.8 trillion - Dean Baker 1.2 trillion, they got these numbers by, in part measuring the contraction in jobs.

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

[ Parent ]

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