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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (144871)	8/1/2014 9:11:58 AM
From: Wharf Rat	Respond to of 149317

DCJ is one of my guys, and wants to tax the rich and the corps and all that. However, re But in 1936, three years after the Great Depression ended, the vast majority enjoyed 31 percent more income than in 1933. The average increase, in today’s dollars, was $2,146 per household, he forgot about '37, when FDR started to sing the Austerity Balanced Budget Blues and threw us back into the Depression. What is the Roosevelt Recession? The Roosevelt recession refers to a period from mid-1937 to 1938 when the economic recovery from the Great Depression temporarily stalled, lasting about 13 months. The unemployment rate jumped from 14.3% to 19.0%, the first increase since FDR took office, and manufacturing output fell by 37% to 1934 levels. In response, in April 1938 Roosevelt got $3.75 billion in new spending from Congress, which was split among various recovery agencies, and the economy once again began to recover. What’s the significance? Economists still argue over what caused this dip, but Keynesians point to FDR’s spending cuts in June of 1937. Some of his advisers urged him to balance the budget, and he cut government spending. After FDR reversed course in 1938 and went back to deficit spending, the unemployment rate began to fall, and kept falling until there was virtually no unemployment by 1945. The Roosevelt recession can serve as a lesson for our current situation. Even as the economy’s recovery is still extremely fragile, conservatives are calling on President Obama to reduce the deficit and cut spending. But many progressives fear that it would only repeat FDR’s mistakes and choke off any chance for economic growth rooseveltinstitute.org He also forgot that the Depression didn't end in 1933. Some think it didn't end until we entered the war, others when the Roosevelt Recession ended. In '33, unemployment was 24.9%. The Great Depression (1929-1939) gwu.edu