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Do we need a new New Deal?

Jwalden --- Constitution Party 2009/01/13 08:11:33
New Deal didn’t work
depend on government alone to create jobs
call for a one-year suspension of the income tax
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Real Tax Cuts, Not an Obama ‘New Deal,’ Will Lift Economy, Say Experts
Monday, January 12, 2009
By Josiah Ryan, Staff Writer
http://www.cnsnews.com/public/content/article.aspx?RsrcID=417...

CNSNews.com) - America does not need a new New Deal or a stimulus package to rescue its foundering economy, Dr. Burt Folsom, a professor of history at Hillsdale College, and Steven Moore, a columnist with The Wall Street Journal, argued at the Metropolitan Club in Washington, D.C., on Friday.

President-elect Barack Obama, however, said in an address at George Mason University on Thursday that government spending is the only solution to the country’s economic woes, and advocated a stimulus package expected to cost taxpayers between $700 billion and $1.3 trillion.

“The question to address is, ‘Do we need a new New Deal?’” said Folsom. “No we don’t need a New Deal. The first reason we don’t need one is the most obvious: the old New Deal didn’t work. There is no reason to believe that a new New Feal would work any more equitably or would be more effective than the old New Deal. ”

Folsom said that President Franklin D. Roosevelt’s New Deal, which was a 1930s stimulus plan crafted to lift America out of the Depression and put people back to work, never did reduce unemployment.

Even Roosevelt’s treasury secretary, Henry Morgenthau, recognized that FDR’s stimulus spending did not work, said Folsom.

“Morgenthau, after being in charge of this economic debacle called the New Deal, finally sort of exploded in 1939 and said, ‘We are spending more money than we have ever spent before, and it does not work,” quoted Folsom. “‘I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this administration, we have just as much unemployment as when we started and an enormous debt, to boot.”

But in his speech, Obama argued that spending is the only way to solve the nation’s economic woes.

“It is true that we cannot depend on government alone to create jobs or long-term growth. But at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe,” said Obama. “Only government can break the cycle that is crippling our economy -- where a lack of spending leads to lost jobs, which leads to even less spending; where an inability to lend and borrow stops growth and leads to even less credit.”

Moore, a specialist on taxes and the economy, said that another New Deal would not help the economy and suggested Obama try implementing real tax cuts instead.

‘We need alternatives to the Obama stimulus plan,” said Moore. “We need to call for a one-year suspension of the income tax. If we want to see this economy recover, bring tax rates down to zero. We will get jobs.”


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  • Backlashjack 2009/01/13 19:06:08
    New Deal didn’t work
    Backlashjack
    +7
    It is taught in schools that the original New Deal saved our country. The truth is that it prolonged the problem. Private business/corperation are the answer. Keep the government out. The government fixing of the economy will always make it worse. It also violates the 9th and 10th Ammendments.

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  • Elizabeth 2009/05/04 01:01:25 (edited)
    New Deal didn’t work
    Elizabeth
    ................................
  • Skunk " In God We Trust" 2009/01/14 16:30:34
    New Deal didn’t work
    Skunk  " In God We Trust"
    +2
    In my honest humble opinion."How in the hell is more government spending going to get this country out of the mess its in?"

    We (the world) are on the eve of the greatest economic depression ever.This knucklehead that was "elected" to office is going to get the ball down the hill to the bottom and then some.
  • chainsaw 2009/01/14 12:19:25
    New Deal didn’t work
    chainsaw
    +4
    I just listened to Congresswoman Michelle Bachman (R-MN) debate Bob Beckel, Democratic Strategist. She clearly stated the problems with government programs and why they won't work in taking from Peter to pay your favorite Paul.

    (Just a sidebar on Beckel. He stated that it is a Republican administration that is responsible for the bailout legislation. There was no admittance, on his part, that the Democratic controlled House and Senate were big players. Congresswoman Bachman was vigilant in calling him out on that fact.)
  • Jwalden... chainsaw 2009/01/14 13:59:48
    Jwalden --- Constitution Party
    +3
    i still find it amazing --
    Congress passes laws.
    Congress decides when and where and how 'all' government money is spent, Yet it is someone elses fault.

    does the song 'mellow yellow' fit here?

    :} decides government money spent elses fault song mellow yellow fit
  • Daveman chainsaw 2009/01/14 14:15:02 (edited)
    Daveman
    +2
    i like Bachman. I am about 10 miles out of her district......darn
    A good friend i work with sees her at church with her husband all the time and they talk frequently. my dad got a letter from a democratic senator Dayton a while ago, Dad and him were debating via mail and some things came up in his letter that were not wise to say. ( something about quoting the bible for gay marriage, but it was ass wrong) my dad gave it to Bachman and she brought it up in front of congress. but she made him dig his grave first because the senator didnt know about the letter Michelle had. She brought it up at the end, he got furious and made everyone leave the room. lol my dad just told me that story. i guess the senator didnt run for re election. im not sure how much credit goes to my dad and Michelle but maybe a little.
    my mom lives in her district and i used to but i moved closer to the city.
    i have a feeling we are going to see more of her.
  • chainsaw Daveman 2009/01/14 17:58:59
    chainsaw
    +2
    Cool story, thanks for sharing. I hope you're right about the Congresswoman making more of a name for herself. She certainly impressed me with her articulate and sensible speaking.
  • JDC~The Shootist~ 2009/01/13 20:55:25 (edited)
    New Deal didn’t work
    JDC~The Shootist~
    +6
    It prolonged the Great depression, if not for WW2 this Country would not be what it has become today. No doubt that generation was and is America greatest generation, they did not set back and whine about their troubled world they changed it.
  • Diane 2009/01/13 19:59:56 (edited)
    New Deal didn’t work
    Diane
    +4
    If we cut welfare to those unworthy of it, if we didn't support illegal immigration and if we cut all those unconstitutional earmarks, we would get out of this situation in about one month. Oh,,,and let's not forget that if we dismissed the government and replace it with actual public servants many of our problems would dissolve overnight.
  • Backlashjack 2009/01/13 19:06:08
    New Deal didn’t work
    Backlashjack
    +7
    It is taught in schools that the original New Deal saved our country. The truth is that it prolonged the problem. Private business/corperation are the answer. Keep the government out. The government fixing of the economy will always make it worse. It also violates the 9th and 10th Ammendments.
  • luly 2009/01/13 17:45:07
    New Deal didn’t work
    luly
    +6
    Where's the change Obama?
  • Jwalden... luly 2009/01/13 19:58:55
  • Bring it ~STS~Freewill Dirt... 2009/01/13 16:43:24
    New Deal didn’t work
    Bring it ~STS~Freewill Dirty Pheonix
    +6
    This will only drive us to the brink of complete slavery..
  • Daveman 2009/01/13 16:18:09
    New Deal didn’t work
    Daveman
    +5
    deal work

    Democratic presidential candidates as well as some conservative intellectuals, are suggesting that Franklin Delano Roosevelt's New Deal is a good model for government policy today.

    Mounting evidence, however, makes clear that poor people were principal victims of the New Deal. The evidence has been developed by dozens of economists -- including two Nobel Prize winners -- at Brown, Columbia, Princeton, Johns Hopkins, the University of California (Berkeley) and University of Chicago, among other universities.
    http://www.cato.org/pub_displ...
  • chainsaw Daveman 2009/01/14 12:10:04
    chainsaw
    +3
    Nice link Daveman. Thanks.
  • Doc 2009/01/13 08:25:21
    New Deal didn’t work
    Doc
    +7
    We need someone better than those who are looking at same failed tactics which prolonged the depression. Lets try some of those who have been trying to warn us for over 10 years when the majority said we were just fine.
  • Diane Doc 2009/01/13 20:19:18
    Diane
    +4
    Maybe the idea here is to prolong suffering for we tax payers. We argue that they are making wrong decisions for us, but there must be a goal for their madness. The answers and solutions are evident, therefore I must ask why they aren't being implemented.

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