Posted on 10/14/2010 11:58:31 AM PDT by Little Bill
I found the Flynn book at a church rummage sale. what a treasure! “the one” of an earlier era laid bare.
Yes he did, but it was at the end of the Second World War, and it took the US 40 years to reduce national debt back to levels of just before that war.
The most insane part of today's deficit spending is that it goes for no apparent purpose beyond paying off the Democrats' political supporters.
These are all good recommendations, but I’d start with Burt Folsom’s Myth of the Robber Barons.
It covers the history of the end of the 19th century and into the early 20th, just before the 2nd Roosevelt takes over.
Bad things started to happen in America right from the start with politics entering business and muddling things up. This book is a good primer on the bad ideas that shaped the early 20th century in America including the first dummy - Teddy Roosevelt.
“Yes he did, but it was at the end of the Second World War,”
Right. I meant that he didn’t do so during the 1930’s when he was trying to stimulate the economy. I would say that every penny spent on WWII was money well spent. But as that example shows, even when debt rose above 100% of GDP, it was possible to knock that down to more manageable levels over a period of decades. There’s no indication Obama has plans to do that.
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