Posted on 04/23/2009 8:43:14 AM PDT by NormsRevenge
Who is going to spend when they might lose their jobs...my husband’s job hangs by a thread...I need a new car, but no way I’m buying one right now.
Sorry to hear this...we are in real trouble too...hard to get out of bed some mornings...so depressing.
FDR’s Treasury secretary , Henry Morganthau, conceded this fact to Congressional Democrats in 1939: “We have tried spending money. We are spending more than we have ever spent before and it does not work.
We have never made good on our promises ... I say after eight years of this Administration we have just as much unemployment as when we started ... And an enormous debt to boot!”
Spending did get us out of the depression and a giant jobs program that went hand in had...it’s called WWII. I believe that spending is the only way to save an economy in a death spiral as in the 30’s and unfortunately now...but you have to spend wisely. Had Obama done this, we might already be pulling out or at least not going down further.
from Wiki-Morgenthau was against Keynesian economic and was not a new dealer...it was on his advice that Roosevelt balance the budget in 1936...which lead to a ‘recession’ and higher unemployment numbers. It is hardly surprising that Morgenthau said this as he did not ever agree with Roosevelt’s policies. I still say...spending combats deflation.
New Deal
In 1933, Roosevelt became President and appointed Morgenthau governor of the Federal Farm Board. In 1934, when William H. Woodin resigned because of poor health, Roosevelt appointed Morgenthau Secretary of the Treasury (an act that enraged conservatives). Morgenthau was an orthodox economist who opposed Keynesian economics and disapproved of some elements of Roosevelt’s New Deal. In New Deal or Raw Deal?, Burton Folsom quotes Morgenthau, testifying before the House Ways and Means Committee in May 1939: “We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get jobs. We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started and an enormous debt to boot.”
To finance World War II, he initiated an elaborate system of marketing war bonds.
[edit] Fiscal responsibility
Morgenthau’s signature, as used on American currency
Morgenthau believed in balanced budgets, stable currency, reduction of the national debt, and the need for more private investment.
The real perps are the asshats in office right now that call nearly everything a “CRISIS!”
People won't spend money when they see Obama rape their paychecks, impose idiot global warming legislation, make GM “Government Motors,” trying to pass card check, and call 60+% of the nation right-wing terrorists.
The plain fact is that it IS bad. Here in Wisconsin we are at around 9% unemployment and climbing. Our useless puke of a governor Diamond Jim Doyle is proposing huge new taxes and fees right in the middle of it, handily driving businesses out of the state, and making us even more of a tax hell. (And that's saying something.)
So, how are people supposed to be spending anything at this time? Even if you didn't hear the sensationalism, businesses would still be closing, our debt would still be rising, and our government would still be stealing from us.
Just my adjective-laden commentary.
I’m sorry to hear it, nyconse.
I suggest cultivating a budding new carrer in alcoholism.
Call me.
:)
Thanks...I went to my interview today...one of about 20...more people being interviewed the entire week. It went quite well, but who knows? Maybe I’ll get called back-hoping to.I put on my pajamas...now that I’ve picked up the kids, I think it’s time for a little wine!
Funny, I read your last post before I opened my bottle of wine...great minds think alike.
I used to live in Janesville Wisconsin...last year. We were transferred there from Georgia when the GM Doraville plant closed...really liked Wisconsin...great schools (Milton Schools). Sadly, we were transferred to Ohio this year when the Janesville GM plant closed...I’m not loving Ohio really. The schools are good, but my two older kids are not fitting in well...they did fine in Janesville. The plant is a really tough one and more than a few of the over 40 crowd have been targeted with bogus employee improvement programs which can lead to dismissal...funny all white 40+ males. Of course GM won’t survive a bankruptcy anyway in my opinion...if I’m wrong and hubby survives the age thing and GM survives, we are going to be down 9 weeks in July and August-no pay...not sure if vacation time can be used. I am really depressed which is unusual for me (nickname=pollyanna).
I’m sorry to hear that. I really hope you and your family can get through it all.
I decided to start my own business (Software quality and process consulting.)
I figure that if anybody is going to make stupid decisions that end up losing me my job, from now on that’s going to be me!
It’s a huge risk, but it’s worth it.
But don’t worry. Obama will provide!
Hath you not received your loaves and fishes yet?
Prayers to your family.
I wish you every success...Rush always says the risk takers receive rewards in the end and deserve their rewards...prayer and good wishes coming your way.
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