Get Over It: New Deal Didn't Do the Job

Heritage Foundation ^ | Jan. 2009

[T.L.Sink]

"We have tried spending money. We are spending more than we have ever spent before and it does NOT work." Sound like Rep. John Boehner lamenting Obama's inclination to spend our way out of the recession? Listen again: "I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises." Sound like a liberal Democrat pushing Obama to "create" jobs? How about this: "I say that after eight years of this Administration we have just as much unemployment as when we started ...And an enormous debt to boot!" The words came from none other than Henry Morgenthau -- pal, lunch companion and loyal secretary of the Treasury to President Franklin D. Roosevelt. And in 1939 he said those words publicly before the House Ways and Means Committee.

[T.L.Sink]

We all know from historical hindsight that WW II ended the great depression. But Henry Morgenthau, FDR's brilliant Treasury Secretary, broadcast it to the nation in 1939, even before we became involved in the war. He LEARNED FROM HARD EXPERIENCE that the Keynesian policy of throwing more and more good money after the bad did NOT stimulate a depressed economy into a strong and expanding one. Obama and the Left are still ignorant of history.

"Those who do not remember the past are condemned to relive it." -- Santayana

[T.L.Sink]

FYI

[Para-Ord.45]

bm

[Chi-townChief]

Morgenthau? Why, that neocon!!!

[milwguy]

I have a copy of Dr. Folsom’s book and would highly recommend it to all freepers. Those who do not understand history are destined to repeat it. Obama is the most historically ignorant POTUS in my lifetime. It is not just that he doesn’t care, it is also that he doesn’t know. When those two things are combined, it is no surprise we are in the dire straits we find ourselves

[Rumplemeyer]

save

[jy8z]

We The People are doing our best to correct the disconnect that Washington has with the real world.