Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-06-2009, 08:45 AM
 
769 posts, read 884,905 times
Reputation: 199

Advertisements

Quote:
Originally Posted by Memphis1979 View Post
I didn't say it wasn't debatable, but MOST economists credit FDR with ending the Great Depression.

I don't believe this. Do you have some figure saying that economists credit FDR with ending the Great Depression. I've only heard liberals say this.
Reply With Quote Quick reply to this message

 
Old 08-06-2009, 08:51 AM
 
Location: Wisconsin
37,641 posts, read 21,803,307 times
Reputation: 13592
Quote:
Originally Posted by HappyTexan View Post
Obama is saying he inherited this One Trillion debt from the previous administration.
No one even corrected him on that figure.
When your long lost uncle dies, and leaves you property, which consists of a run down building the he owed back taxes on, and the EPA hands you a bill for the costs of cleaning up your uncle's storage of hazardous waste - that's an inheritance.

Barack 0bama did not fly in from the planet Mars to be sworn in as president in January. 0bama knew what he was getting into. He begged, pleaded and campaigned for the presidency. He voted for all the stimulus, bailouts and TARP. He and the democrats created this debt, and sent the bills to Bush to be signed.

0bama is like a person losing a baseball game, and after striking out his last two times at bat, he is on deck complaining that he inherited the game, the team, and the scoreboard. Of course his team is losing, he is their pitcher, and we've seen how well he pitches.

For anyone who has played organized sports before, we recognize these people. They are the ones who constantly complain when things do not go well for them. The sun was in their eyes, their arm hurts, its someone else's fault, their favorite bat is gone, or their tummy hurts. They just do not have the fortitude to rise above adversity, or overcome their own failings. Why couldn't 0bama have been picked last for basketball again, his time around?
Reply With Quote Quick reply to this message
 
Old 08-06-2009, 12:13 PM
 
Location: Sango, TN
24,869 posts, read 24,295,801 times
Reputation: 8672
Quote:
Originally Posted by WalterK View Post
I don't believe this. Do you have some figure saying that economists credit FDR with ending the Great Depression. I've only heard liberals say this.
FDR Prolonged the Depression? Really?

EMAIL PRINT SHARE
Posted on Jan 1, 2009

By David Sirota

If you’re like me, you sometimes find yourself speechless when confronted with abject insanity.

If you’re like me, for instance, you were dumbfounded when “Forrest Gump” beat out “Pulp Fiction” for best picture; when HBO’s “Sopranos” received more accolades than “The Wire”; and when George W. Bush insisted Iraqi airplanes were about to drop WMDs on American cities.

So if you’re like me, you probably understand why I was momentarily tongue-tied last week after running face-first into conservatives’ newest (and most ridiculous) talking point—the one designed to stop Congress from passing an economic stimulus package.

During a Christmas Eve appearance on Fox News, I pointed out that most mainstream economists believe the government must boost the economy with deficit spending. That’s when conservative pundit Monica Crowley said we should instead limit such spending because President Franklin Roosevelt’s “massive government intervention actually prolonged the Great Depression.” Fox News anchor Gregg Jarrett eagerly concurred, saying “historians pretty much agree on that.”

Of course, I had recently heard snippets of this silly argument—right-wing pundits are repeating it everywhere these days. But I had never heard it articulated in such preposterous terms, so my initial reaction was paralysis—the mouth-agape, deer-in-the-headlights kind. Only after collecting myself did I say that such assertions about the New Deal were absurd. But then I was laughed at—as if it was hilarious to say that the New Deal did anything but exacerbate the Depression.

Afterward, suffering pangs of self-doubt, I wondered whether I and most of the country are the crazy ones. Sure, the vast majority of Americans think the New Deal worked well. But are conservatives right? Did the New Deal’s “massive government intervention prolong the Great Depression”?

Ummm ... no.

Upon deeper examination, I discovered that the right bases its New Deal revisionism on the short-lived recession in a year straddling 1937 and 1938. But that was four years into Roosevelt’s term—four years marked by spectacular economic growth. Additionally, the fleeting decline happened not because of the New Deal’s spending programs, but because Roosevelt momentarily listened to conservatives and backed off them. As Nobel-winning economist Paul Krugman notes, in 1937-38, FDR “was persuaded to balance the budget” and “cut spending and the economy went back down again.”

To be sure, you can credibly argue that the New Deal had its share of problems. But overall, the numbers prove it helped—rather than hurt—the macroeconomy. “Excepting 1937-1938, unemployment fell each year of Roosevelt’s first two terms [while] the U.S. economy grew at average annual growth rates of 9 percent to 10 percent,” writes University of California historian Eric Rauchway.

What about the New Deal’s most “massive government intervention”—its financial regulations? Did they prolong the Great Depression in ways the official data didn’t detect?

Nope.

According to Federal Reserve Chairman Ben Bernanke, “Only with the New Deal’s rehabilitation of the financial system in 1933-35 did the economy begin its slow emergence from the Great Depression.” In fact, even famed conservative economist Milton Friedman admitted that the New Deal’s Federal Deposit Insurance Corp. was “the structural change most conducive to monetary stability since ... the Civil War.”

OK—if the verifiable evidence proves the New Deal did not prolong the Depression, what about historians—do they “pretty much agree” on the opposite?

Again, no.

As Newsweek’s Daniel Gross reports, “One would be very hard-pressed to find a serious professional historian who believes that the New Deal prolonged the Depression.”

But that’s the critical point I somehow forgot last week—the truism we must all remember in 2009: As conservatives try to obstruct a new New Deal, they’re not making any arguments that are remotely serious.
Reply With Quote Quick reply to this message
 
Old 08-06-2009, 01:33 PM
 
Location: the very edge of the continent
88,565 posts, read 44,294,084 times
Reputation: 13521
Quote:
Originally Posted by Memphis1979 View Post
FDR Prolonged the Depression? Really?

EMAIL PRINT SHARE
Posted on Jan 1, 2009

By David Sirota
That's a journalist's barely researched opinion.

Read an in-depth historical analysis for greater understanding:
Amazon.com: FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression (9780761501657): Jim Powell: Books
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 02:39 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top