I caught that too. The thing of it is the ‘government spending’ that took place was not the same because it was hiring private companies to manufacture products; putting people to work. This maniacal government is spending...period. There is nothing being produced.
Cunningham seemed to catch himself though because he did say that it was FDR’s policies that extended the depression.
“The thing of it is the ‘government spending’ that took place was not the same because it was hiring private companies to manufacture products; putting people to work. This maniacal government is spending...period. There is nothing being produced.”
Yes, the Obama stimulus was little more than pork-barrel projects and handouts to those who gave money to the DNC. It didn’t produce anything.
Let’s look at the 1930s and ‘40s for a moment. The economy hit rock bottom in 1931-32 and then gradually recovered from 1933-36. Then FDR’s New Deal policies kick in and caused a new recession in 1937-38. Things start improving again in 1939, and then as the government ups defense spending in 1940-41, the Depression formally ends. Then comes the rationed wartime economy of 1942-45. 1946-48 are again rather difficult years due to high inflation and the slow process of returning to a peacetime economy. It wasn’t really until 1949 that the last trace of the Depression was banished.