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Wednesday, April 13, 2011

FDR vs Paul Ryan, 1938 all over again

 Although I am not a scholar on the history of the Great Depression, it has been described to me by my family and I have read about it ... which makes me as qualified as most of the people pontificating about the situation we find ourselves in today.  People like to disparage the economist Keynes these days ... all he said was that there was a little simple algebra that roughly describes the interactions of interest rates, employment, income and consumption!  Trust me ... it is still true!  You have a big crash, a reduction in income, a shrinkage of asset values and you are going to have a recession / depression!  What would you do ... Mr. President ... well Keynes would tell you to supplant the loss in consumption with Federal spending to boost / maintain employment or reduce low / middle income taxes or both ... but not if you are a conservative Republican!  In the latter case you focus on finding an anti-FDR solution ... contract spending, raise interest rates and increase unemployment.


Click the Title ... from the source ... New Deal ... Wikipedia

Despite Roosevelt campaigning heavily against anti-New Deal Republicans and anti-New Deal Democrats, Republicans gained many seats in Congress in the 1938 midterm elections and the Democrats opponents of the New Deal retained their seats,[2] resulting in the WPA, CCC and other relief programs being shut down during World War II by the Conservative Coalition (i.e., the opponents of the New Deal in Congress); they argued the return of full employment made them superfluous. As a Republican President in the 1950s, Dwight D. Eisenhower left the New Deal largely intact. In the 1960s, Lyndon B. Johnson's Great Society took New Deal policies further. After 1974, laissez faire views grew in support, calling for deregulation of the economy and ending New Deal regulation of transportation, banking and communications in the late 1970s and early 1980s.[3] Several New Deal programs remain active, with some still operating under the original names, including the Federal Deposit Insurance Corporation (FDIC), the Federal Crop Insurance Corporation (FCIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System and the Securities and Exchange Commission (SEC).

Paul Ryan ... just what does he believe?  He tries to have it both ways ... reduce spending, his spin is incredible  - I'm watching Charlie Rose - who seems no match for the sound bites!  Paul Ryan says that Obama gives us platitudes ...  Ryan says "growth and prosperity" ... platitudes!!!!

Be very wary of Ryan ... "we have decided to act" ... "debt crisis" ... "attach spending controls" ... lacking specifics ... buzz, buzz!  Euphemisms!

Charlie Rose now has Stephen Pearlstein from Washington Post ... we will see ... is not politics interesting!

The wisdom is, it seems, is that Obama is a dumb ... I think it is more ... give them (Ryan, et al)  enough rope to hang themselves!


WI 1848 Forward: #FDR vs Paul #Ryan, #1938 all over again #AARP #47% #Medicare #Medicaid #SafetyNet #Janesville

#Elites #1% WI 1848 Forward: Paul #Ryan vs #FDR, #1938 all over again #AARP #47% #Medicare #Medicaid #SafetyNet #99%

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