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Politics : View from the Center and Left

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To: JohnM who wrote (104405)	2/17/2009 12:27:14 PM
From: Steve Lokness	Read Replies (1) of 541791

John; just fine and its was responding until 37/38 when Roosevelt concluded it was time to balance the budget. Bang, down went the economy. There was one year during the roosevelt administration that took a downturn, but it was only a slight downturn which was immediately followed the next year with a upturn again and that was before WWII. WWII stopped that with full employment for the war effort. Exactly. So how do we do that today? Krugman was on right now (not with Kudlow as I thought I had heard) and he said the stimulus plan was more like 600 plus billion because some of the tax cuts are not stimulative. (That's the second time I have heard him say it so he must think it is true). He said that the shortfall in the economy is something over 2 plus trillion so I guess he is suggesting that we are only getting to a third (or a fourth) of what we need to spend. Yikes!! To krugmans credit, he did acknowledge that housing is dead, has more to fall and to try to do anything about that is wasted effort. Good.

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