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Politics : Formerly About Advanced Micro Devices

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To: Wharf Rat who wrote (966049)	9/20/2016 10:44:14 PM
From: TimF	Read Replies (1) of 1574996

Federal spending 1929 - under $4bil, in 1937 almost $9bil. And that's in a deflationary period. In 2009 dollars spending increased from $31.6B to $91.3bil. federal-budget.insidegov.com federal-budget.insidegov.com And in 1937 the feds ran a budget deficit of 2.5% of GDP, which is hardly austere. Considering the extreme circumstance an argument can be made that the spending and the deficits were well justified, but even if one accepts that a justified massive increase in spending combined with large deficits hardly amounts to austerity. There was a slight decline from 36 to 37 after large increases year after year before that. 1937 spending was higher then 1935 spending. The idea that any one year cutback in spending is austerity, much less disastrous spending is a bit silly.

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