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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (468755)	4/3/2009 6:00:20 PM
From: SilentZ	Read Replies (1) of 1579102

statesman.com With either set of numbers, the jobless rate steadily improves during FDR's first term but then rises again in 1938. Why? Prematurely optimistic that the corner had been turned, and pressured by deficit hawks in his administration and in Congress, Roosevelt tried to balance the budget in 1937 by cutting New Deal programs and raising taxes — a violation of the new deficit-spending theories of British economist John Maynard Keynes then gaining favor. The result, many experts say, was a yearlong recession within the Great Depression. -Z

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