Quote:
Originally Posted by scout
Heres my take on it simplified and in a nutshell:
Money coming in from countries buying American goods such as food, supplies, guns, planes and tanks for their own war effort was a huge contributor in spending us out of the Great Depression.
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Sure, if you want to ignore the facts.
Five years of negative GDP growth between '28-'33, followed by eight years of economic growth when the New Deal programs kicked in (rising GDP, with the exception of '37 when FDR cut New Deal spending).....all of which took place before any war spending.
BTW, the "lend-lease" policy of supplying the UK, France, USSR (and other allies) with war materials didnt start until early "41.
To what do you attribute those eight years of pre-war sustained economic growth if not the spending and job creation programs of the New Deal?
---------- Post added at 09:24 AM ---------- Previous post was at 08:20 AM ----------
Quote:
Originally Posted by scout
The idea that spending a trillion dollars to build bridges and changing light bulbs in government buildings without generating any real wealth is somehow going to miraculously drag us out of a terrible recession long term is asinine to say the least. It will definitely help short term but it's not a long term fix by any stretch of the imagination.
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No one, including Obama, has suggested its a "long term" fix.
It is a short term initiative to hopefully stop the continued downward slide and stabilize the economy.