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What Treasury Secretary Morgenthau told the House Ways and Means Committee in 1939
"New Deal or Raw Deal? How FDR's Economic Legacy Has Damaged Anerica", Burton Folsom, Jr.

Posted on 08/19/2011 7:51:36 AM PDT by Candybar

In 1939, ten years after the crash on Wall Street, the Secretary of the Treasury, Henry Morgenthau, Jr., told the House Way and Means Committee:

"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong ... somebody else can have my job. I want to see people get enough to eat. 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!" (emphasis added)

Does history repeat itself? Yes, it does. It looks like President Obama and the Congress intend to repeat many of the errors of the last Depression. They are well on their way.

Is there any hope that the direction in which our country is going can be reversed? Yes, there is!

What do you think and what would you recommend?


TOPICS: Business/Economy; Culture/Society; Miscellaneous; News/Current Events
KEYWORDS: chat; debt; jobs; morgenthau; spending; unemployment; vanity

1 posted on 08/19/2011 7:51:41 AM PDT by Candybar
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To: Candybar

excellent find.
...too bad we can’t sneak this on huffington...


2 posted on 08/19/2011 8:13:26 AM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
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To: Candybar

the first step is to get rid of all progressives from government

i won’t give any more suggestions until after that is complete. i don’t want them to be rescued.

they must fail utterly. so badly as to be remembered for decades to come.

once they are out, then the solution will present itself. for you see... they *are* the problem and the solution in one


3 posted on 08/19/2011 8:13:34 AM PDT by sten (fighting tyranny never goes out of style)
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To: Wings-n-Wind

PING FOR LATER


4 posted on 08/19/2011 9:07:41 AM PDT by Wings-n-Wind (The main things are the plain things!)
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