We are approaching depression era unemployment with no industries left to stimulate.
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!”