Posted on 05/21/2009 4:41:50 PM PDT by TheFreedomPoster
President Obama's "New Deal II" is the Raw Deal too, just as FDR's was. FDR did not bring us out of the Depression, quite to the contrary. He prolonged it.
Using data collected in 1929 by the Conference Board and the Bureau of Labor Statistics, two UCLA economists, Harold Cole and Lee Ohanian, conducted a four-year study (in which they concluded that FDR's policies prolonged the Great Depression by seven years.
The United States didn't climb out of the Great Depression until 1943, when our manufacturing plants were humming to meet both our own, as well as foreign military demand.
(Excerpt) Read more at myfreedompost.com ...
The US did not come out of the Great Depression until the early fifties. The War merely converted the Depression into a full employment Depression. People were not better off economically- they just all had jobs at slave wages due to wage and price controls. The same slogans -”wear it out, use it up,” etc. were slogans of New Deal programs and of the War.
The stock market (DOW) didn’t reach it’s 1929 peak until 1954, true, but the economy recovered from depression levels during WWII.
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