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Politics : Politics of Energy
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To: Hawkmoon who wrote (10783)7/7/2009 12:28:14 PM
From: RetiredNow  Read Replies (1) of 86355
 
I think you have it right. In the middle of all these cries of Obama being a socialist, the fact is that our US government is right now acting as a lender of last resort. That is precisely the function you want your government involved in in crises of this magnitude. They are providing both the fuel and the spark to get the fire going again. Had they not stepped in, we would have been faced with another Great Depression. We may still yet see that, unless the stimulus money (most of which will be spent in the next 12 mos) can kick start the economy again.

Everyone forgets, but it was the massive government spending and government employment of WWII that got us out of the Great Depression. It added debt too, but that debt was worked off and ameliorated by massive economic growth after WWII.
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