FDR worsened the Depression. It took WW2 to begin to lift the economy, and even at that, it took over 20 years to truly recover. Cutting taxes, spending and government to the bone would’ve lifted the economy in short order.
100% true.
“Cutting taxes, spending and government to the bone would’ve lifted the economy in short order.”
Most people have no idea of what Federal spending was like when FDR took office. It was between 7% and 10% of GNP. Since the end of WWII federal spending as a percentage of GNP has ranged from 18% to 26%. Maybe higher now. It’s never been as low as it was prior to FDR and during his first two terms in office.
The private sector economy was caught in a trap due to a massive credit collapse in the banking system with one third of the US money supply simply evaporating. Cutting spending would have poured gasoline on that disaster. It’s not a panacea for every disease of the economy.
And here’s why......sap-happy Biden stupidly flooded the economy w/ easy money.
Why work when you can steal all you want?
AP ^ | 21 December 2021 | JENNIFER McDERMOTT
Posted on 12/22/2021, 4:34:57 AM by blueplum
Nearly $100 billion at minimum has been stolen from Biden’s COVID-19 relief programs set up to help businesses and people who lost their jobs due to the pandemic, the U.S. Secret Service said Tuesday.
The estimate is based on Secret Service cases and data from Biden’s Labor Department and the Small Business Administration, said Roy Dotson, the agency’s national pandemic fraud recovery coordinator, in an interview. The Secret Service didn’t include Biden’s COVID-19 fraud cases prosecuted by the Justice Department....
Most of that figure comes from unemployment fraud. Biden’s Labor Department reported about $87 billion in unemployment benefits could have been paid improperly, with a significant portion attributable to fraud....
(Excerpt) Read more at apnews.com ...