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Even FDR's Treasure Secretary knew the New Deal did not work!

☆The Rock☆ * AFCL* The Sheriff!! 2011/06/20 09:32:14
Yes, I agree government spending doesn't work!
No, government spending does work!
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Okay, Obama has added over 3 trillion on the national debt and has quadrupled the deficit..We still have high unemployment..This is what FDR's Treasury Secretary had to say!

Henry Mrogenthau (who was FDR's Treasury Secretary and closest confidant) blows all of the liberal arguments out of the water. On May 9, 1939, with unemployment at 20%, speaking to the House Ways and Means Committee Congress, Morgenthau said "We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong...somebody else can have my job. I want to see the 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 promise....I say after eight years of this administration we have just as much unemployment as when we started....and an enourmous debt to
boot!"

job people eat promise years administration unemployment enourmous debt boot
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  • Evil 1 2011/06/20 10:47:39
    Yes, I agree government spending doesn't work!
    Evil 1
    +8
    FDR's New Deal was the beginning of the liberal BS that has put the US in financial ruin.

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  • Purple Pinto ~PWCM~JLA 2011/09/16 13:08:07
    Yes, I agree government spending doesn't work!
    Purple Pinto ~PWCM~JLA
    +1
    How did I miss this blog until now? Great topic, Rock!!

    There were only two programs that had any significant impact: The Rural Electrification program and his various hydroelectric programs with the TVA being the grandaddy of them. Taking a country that was still on gas lights, candles and ice boxes to one with a newly modernized electrical grid. It created jobs and it created consumers to some degree. Had there been any expendable income in most family's budgets, it might have done more, however his other policies and ideology killed any hopes of private sector recovery.

    Now let's fast forward to Obama trying to recreate the New Deal with his green power push.

    I'm all for solar generated electricity. It may not be the end all, but it certainly has possibilities to help supplement. I'd install the panels and system on my home in a heartbeat, but.....the cost is prohibitive. For a single family home the costs run anywhere from $10,000 to $30,000 depending on the system. Even with the tax credits, that is not a feasible option. The systems don't add to the value of your home at this point in time. The market just doesn't recognize a value increase, so refinancing my home to do this is not an option, nor is it an option when many residents are merely trying to k...







    How did I miss this blog until now? Great topic, Rock!!

    There were only two programs that had any significant impact: The Rural Electrification program and his various hydroelectric programs with the TVA being the grandaddy of them. Taking a country that was still on gas lights, candles and ice boxes to one with a newly modernized electrical grid. It created jobs and it created consumers to some degree. Had there been any expendable income in most family's budgets, it might have done more, however his other policies and ideology killed any hopes of private sector recovery.

    Now let's fast forward to Obama trying to recreate the New Deal with his green power push.

    I'm all for solar generated electricity. It may not be the end all, but it certainly has possibilities to help supplement. I'd install the panels and system on my home in a heartbeat, but.....the cost is prohibitive. For a single family home the costs run anywhere from $10,000 to $30,000 depending on the system. Even with the tax credits, that is not a feasible option. The systems don't add to the value of your home at this point in time. The market just doesn't recognize a value increase, so refinancing my home to do this is not an option, nor is it an option when many residents are merely trying to keep the roof over their heads and 25% of the homes in the US report being underwater in thier mortgages. Would be consumers can't make the purchase. This idea never gets off the ground with the average homeowner.

    The story isn't any different with the would be commercial purchaser of alternative power systems. Businesses are shuttering left and right. Those still in place are merely trying to keep the doors open and will not make huge capital purchases at this time due to uncertainty. Uncertainty in many aspects - will the dollar fall, will Obamacare kill them, will Europe fall and take the rest of the world with them, will the stock market tank, no recovery is taking place. How long can we last at this pace?

    At least FDR was able to pull off the electrification success. Obama hasn't even got that, so we are far worse off than the depression era in terms of return on the dollar for federal monies borrowed and 'invested' if you will. Further, I don't think FDR had nearly the crony BS wasteful problem Obama has.

    Yes, Obama is indeed trying the New Deal 2.0. Sadly, many haven't been taught the real story about those years and those policies. Our schools have romanticized FDR and his New Deal and failed to teach the truth. The sordid secrets regarding the inspiration for his programs lies in the fascination with Stalin's experiments. Many of his cabinet members were Stalin admirers. The truth is, our economy didn't recover until we got pulled into WWII. Not a thing to do with FDRs economic policies and experiments. We had a new sector emerge - the war machine producing guns, tanks, Jeeps and ammo, and we had a good chunk of the unemployed men in our country enlist or get drafted.

    FDRs legacy continues to kill us to this day. Social Security, even if it wasn't as evil at it's inception, has become a huge ponzi scheme and problem. 12.4% of every wage earner's salary taken right off the top. That doesn't include federal, state, municiple taxes, nor does it include the taxes we pay on gas, cigarettes, liquor, gross receipts, property taxes, etc. These liberals claim we all have to do our share and take a bigger hit on taxes to pull out of this. The top of my head comes off in rage. This irresponsible machine in Washington needs to come to a screaching halt, NOW. No more taxes. Right the system first, and we might talk about taxes. Kill the IRS, EPA, OSHA, and entitlement programs and restructure the entire mess before you come to me and talk about more taxes. Take congress back to being a position of public service rather than elected royalty. Send the professional lobbyists home or to jail as need be. Send those current members of congress who've decieved and lied to jail while we're at it.
    (more)
  • Beccy 2011/09/04 23:48:56
    No, government spending does work!
    Beccy
    +1
    I can understand why republicans always find fault with FDR he was one of them who really cared about the man on the street. Ihave heard to much praise for him to believe something coming out this late
  • ~HopelessRomanticM17~ 2011/06/24 05:37:22
    Undecided
    ~HopelessRomanticM17~
    +1
    It worked for a short while....but now its just hurting us
  • Not-A-RINO 2011/06/24 03:49:54 (edited)
    No, government spending does work!
    Not-A-RINO
    +1
    If anything Rooseveldt extended the Great Depression for many years with his disastrous economic policies. It was only WWII that lifted the US out of it. NOTE: I clicked on the wrong answer above! For more information on the Great Depression, click here --->

    .

    http://www.mackinac.org/4013 (use the PDF link for an easier read).
  • judy ann 2011/06/23 02:55:57
    Yes, I agree government spending doesn't work!
    judy ann
    +1
    we are doomed doomed usa is dommed from spendig debt doomed
  • sammanilla 2011/06/21 18:43:17
    Yes, I agree government spending doesn't work!
    sammanilla
    +1
    An acquaintance says if you give him a dollar, he will make it do wonders for you.

    You give him the dollar and he gives you 40c back. You've been scammed. Instead of making your dollar grow he spent your money on cheap rat food

    Now say that acquaintance is the government...
  • Katfish 2011/06/21 16:57:21
    Yes, I agree government spending doesn't work!
    Katfish
    +3
    Big misconception that the demand side economy (keynesian) created by FDR ended the depression, when in fact it only prolonged it.
  • Matt 2011/06/21 06:25:19
    Undecided
    Matt
    +1
    Our country is where it is at because that is where BOTH parties want it to be ! NEITHER party has done anything good for this country and its inhabitants for about 50 years now. The vast majority of this country and the world's population are too young to even remember the existence of a good economy.
  • KingdomNow 2011/06/21 05:37:29
    Yes, I agree government spending doesn't work!
    KingdomNow
    +3
    No brainer.

    The left refuses to learn!
  • Lynn 2011/06/21 04:10:00
    Yes, I agree government spending doesn't work!
    Lynn
    +3
    Keynessian economics fails every time its tried.
  • SuiJuris249 2011/06/21 03:07:31
    Yes, I agree government spending doesn't work!
    SuiJuris249
    +3
    Government Spending has never worked and never will.
  • out damned spot 2011/06/21 02:58:01
  • Glfer65 2011/06/21 02:51:11
    Yes, I agree government spending doesn't work!
    Glfer65
    Look I totally agree with the need to cut spending. But the truth is the tax breaks from Bush to Obama admin have not created jobs as promised. So with all the cuts we have down to the local level down the bone and the tax breaks extended with no job in sight where do we go from here?

    Telling me that cutting medicare and welfare will create jobs is a joke as they don't have the money to start up a business and many of them are not educated enough to get a skilled above minimum wage job.

    I say scratch all the rules and regs we have in the books and start over by giving small business' tax breaks that scale up over the next five to ten years by then we should be out of this mess. California alone has put a death grip on any new business' with all the crap and taxes to boot.

    No wonder they are all high tailing it out of here.
  • Gracie - Proud Conservative 2011/06/21 02:00:42
    Yes, I agree government spending doesn't work!
    Gracie - Proud Conservative
    +2
    Obama has much in common with FDR. He abused his power and used it to punish his enemies. It's the Progressive way!
  • Lord Nils Gracie ... 2011/06/22 22:09:39
    Lord Nils
    +2
    Very well said!
  • Denny 2011/06/21 02:00:41 (edited)
    Yes, I agree government spending doesn't work!
    Denny
    +1
    All we need now is a World War III to get into to solve some of the unemployment. only problem is we already dumped the Steel.
  • DJL 2011/06/21 01:39:35
    Yes, I agree government spending doesn't work!
    DJL
    +1
    FDR made things worse just like the Democrats are doing now.


    http://newsroom.ucla.edu/port...
  • ★Calliope★ 2011/06/20 23:49:36
    Yes, I agree government spending doesn't work!
    ★Calliope★
    +3
    Keynesian economics don't work.

    Used to further expand the government.
  • Lord Nils ★Calliope★ 2011/06/22 22:10:34
    Lord Nils
    +2
    Indeed!
    Power is all that barry is interested in.
  • Phyl *In God i Trust* 2011/06/20 23:41:07
    Yes, I agree government spending doesn't work!
    Phyl *In God i Trust*
  • lalouisiane 2011/06/20 20:31:25
    Yes, I agree government spending doesn't work!
    lalouisiane
    +2
    Poor old Democrats... they don't really have any new ideas... just.. old ones that never worked before.

    Like the FDR spending years... didn't work but the Democrats will sure do it every chance they get.

    Communism... something that has NEVER worked ANYWHERE it was EVER tried... but, evidently, the Democrats think they can do it better and they want to try it again.... here.

    You know the definition of insanity? It is performing the same action(s) over and over and expecting a different result.
  • ★Calliope★ lalouis... 2011/06/22 22:12:06
    ★Calliope★
    +2
    Totally agree!
  • Greywolf 2011/06/20 20:10:57 (edited)
    No, government spending does work!
    Greywolf
    +2
    The federal government has a consistent record of wasteful spending.
    darn not paying attention clicked the wrong one....as I agree that government spending does not work, government is a libality seldom an asset.
  • Billyk75 2011/06/20 19:14:10
    Yes, I agree government spending doesn't work!
    Billyk75
    +3
    Roosevelt prolonged the depression but because of radio and the leftist media FDR fooled the country into thinking that he was a great Commander in Chief.
  • ★Calliope★ Billyk75 2011/06/22 22:12:42
    ★Calliope★
    +1
    Couldn't get away with that now.
  • Billyk75 ★Calliope★ 2011/06/22 22:18:17
    Billyk75
    +2
    I think he did at the time.
  • ★Calliope★ Billyk75 2011/06/22 22:23:43
    ★Calliope★
    +2
    He sure did.
  • Billyk75 ★Calliope★ 2011/06/22 22:36:03
    Billyk75
    Well that's history 60+years and counting. It's way too late to change it.
  • ★Calliope★ Billyk75 2011/06/23 05:14:36
    ★Calliope★
    +2
    Well. Yes it is.

    What are you trying to say?
  • Billyk75 ★Calliope★ 2011/06/23 15:40:44
    Billyk75
    +2
    That history can't be changed unless you're a progressive writing history textbooks for schools.
  • ★Calliope★ Billyk75 2011/06/24 01:36:27
    ★Calliope★
    +2
    That's true.
  • Allbiz - PWCM - JLA 2011/06/20 17:37:19
    Undecided
    Allbiz - PWCM - JLA
    +3
    I thought SCOTUS founnd FDR;s New Deal unconstitutional...........tw...
  • Arty 2011/06/20 17:28:51
    No, government spending does work!
    Arty
    There are still WPA projects that are still holding up and CCC camp projects too that have held up better than those of private industry ..who always go on the cheap and dont really care about the workers ..If they did they would not have shipped American j0bs abroad
  • ☆The Ro... Arty 2011/06/20 19:47:49
    ☆The Rock☆ * AFCL* The Sheriff!!
    +4
    LOL yea whatever..SS, Post Office, Medicaid and Medicare, Amtrack all are doing real good! LMao
  • texasred 2011/06/20 17:22:54
    Yes, I agree government spending doesn't work!
    texasred
    +4
    The current economy and unemployment are proof. Wonder why the Obama lovers can't see that.
  • Darnel texasred 2011/06/20 18:30:48
    Darnel
    SMH,.. the "current" economy is an improvement from 2008,... it's not about love,.. why can't the Obama haters see that?
  • texasred Darnel 2011/06/20 19:11:49
    texasred
    +4
    The current economy is much worse than 2008. I wonder why the Obama lovers are so ignorant they can't see the truth.

    Date
    12/31/2008
    Debt Held by the Public
    6,369,318,869,476.54
    Intragovernmental Holdings
    4,330,485,995,135.59
    Total Public Debt Outstanding
    10,699,804,864,612.13

    Date
    06/01/2011
    Debt Held by the Public
    9,736,528,968,465.76
    Intragovernmental Holdings
    4,608,126,997,848.59
    Total Public Debt Outstanding
    14,344,655,966,314.35
    http://www.treasurydirect.gov...

    The average unemployment rate for 2008 was 5.8 percent.
    In 2009 the average annual rate shot up to 9.3, topping out at 10.1 percent in October. In 2010, the unemployment rate has hovered around 9.7 percent, dropping to 9.5 percent in June and July.
    http://www.usnews.com/topics/...


    http://www.forecast-chart.com...


    http://www.forecast-chart.com...
    The current economy is much worse than 2008. I wonder why the Obama lovers are so ignorant they can't see the truth.

    Date
    12/31/2008
    Debt Held by the Public
    6,369,318,869,476.54
    Intragovernmental Holdings
    4,330,485,995,135.59
    Total Public Debt Outstanding
    10,699,804,864,612.13

    Date
    06/01/2011
    Debt Held by the Public
    9,736,528,968,465.76
    Intragovernmental Holdings
    4,608,126,997,848.59
    Total Public Debt Outstanding
    14,344,655,966,314.35
    http://www.treasurydirect.gov...

    The average unemployment rate for 2008 was 5.8 percent.
    In 2009 the average annual rate shot up to 9.3, topping out at 10.1 percent in October. In 2010, the unemployment rate has hovered around 9.7 percent, dropping to 9.5 percent in June and July.
    http://www.usnews.com/topics/...

    dropping 9 5 percent june july httpwww usnews comtopics
    http://www.forecast-chart.com...

    5 percent june july httpwww usnews comtopics httpwww forecast-chart
    http://www.forecast-chart.com...
    (more)
  • Phyl *I... texasred 2011/06/20 23:32:53
    Phyl *In God i Trust*
    +4
    Thank's texasred.will put.
  • texasred Phyl *I... 2011/06/20 23:35:22
    texasred
    +4
    Not that facts will make a difference!
  • Chokmah texasred 2011/06/21 02:49:26
    Chokmah
    +3
    Please don't confuse them with the facts!

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