The Great Recession The Great Stabilization
And every college student with a credit card.
And what president thought we could go to war in Iraq and not have to pay for it?
“And what idiot came up with the scheme wherein we borrow to spend our way out of a recession caused by excessive debt? ”
Excessive debt? Gee whiz, I remember stuff like banks failing bubbles bursting and the stock market imploding. That, ANandy, caused a recession. The “excessive” debt only caused complaints from the minority party, both during Bush’s and Obama’s term.
Now, what kind of moron would advocate spending to get out of a crisis… Well, any moron who noted what happened to the US during FDR’s time and around/after WWII, for example, when public spending was skyrocketing. Yes, deficits of 100+% really ruined the country back then. They ruined it so hard, it started the post-war economic boom.
The war machine fixed it. Not F.D.Rube’s spending .Get a clue will ya.Better yet buy one and help the economy.
@ Dave: Whuh?The war machine? The war machine fought and defeatedthe German war machine, that’s what armies DO. Who paid for that war machine? Who paid for the people working in the clothing factories, munitions factories, steelworks - all those things you need for war? Where do you think this money came from, it just popped from the free market aether?
Uncle Sam’s coffers and borrowing, that’s where. FD”Rube” spent, and spent heavily, because that’s what you do when you have an actual freaking war. That spending created the US army, the productions and the jobs behind it.
Armies don’t create jobs in themselves, apart from the soldiers’ ones themselves - and that’s unless they work on a draft. SPENDING on armies may create jobs - pretty much everyone agrees on that. Yet many conservatives deny that spending on anything else creates jobs - because apparently military spending is somehow much more effective. Riiiight.
You don’t think wartime spending impacted the US economy, and you are telling me to get a clue? Get real.