Tuesday, December 23, 2008

Talk about stubborn...

Dude, do you read anything that is posted by someone OTHER than yourself?

No one is arguing that "Government" has shown a propensity to GROW from one fiscal year to the next... but YOU seem to be the only one that is arguing that it ONLY shows this growth from 1932 to the present, and that there were NO signs or evidence of "BIG Government" prior to the New Deal.

However, let's take a look at your "legacy of failure":

Since 1789, there have been no less than SEVEN national "depressions"...

1807-1814
1819-1823
1869-1870
1873-1896 (the Long Depression)
1901
1907
1929-1933 (the Great Depression)

Since 1933, there have been SEVEN recessions...

1937
1953
1957
1973
1980
1990
2001

BUT no "depressions". No recession has has lasted longer than two years since 1933... why?

Because since 1933, our "New Deal" focus in domestic fiscal policy has had a measurable "Keynesian" bend to it... deficit spending during slow economic times with increased taxes and/or spending reductions in strong economies.

Like James said earlier... history is the judge and presents all the evidence. Anything else is conjecture and "what-if", right?

So, before 1932... at least 7 depressions lasting a total of more than 40 years. No New Deal politics.

After 1932... no depressions, but 7 (arguably 5) recessions, none of which lasted longer than 24 months. Seven New Deal administrations (9 if you count Clinton and Bush as "New Deal").

There's my evidence in support of Keynesian economics as found in American domestic policy... or, in other words, New Deal economics.

No comments: