Re: History Says Obama's Stimulus Won't Work DOGG POST
- From: "Ernie Jurick" <invalidexample@xxxxxxxxxxxxxxx>
- Date: Sat, 14 Feb 2009 16:40:13 -0800
"Ray" <Ray@xxxxxxxxx> wrote in message
news:pplep4pdg1qogg1fla1ekl7f9nmb9ega0o@xxxxxxxxxx
BURTON FOLSOM, JR., AUTHOR, "NEW DEAL OR RAW DEAL": It was. That's
what we tried in the Great Depression. We started with the highest
tariff in U.S. history. That stifled foreign trade.
The automobile industry went from about 5 million trucks and cars per
year down to about 1.5 million trucks and cars per year. Then you
start trying various bailout schemes with Reconstruction Finance
Corporation, and those don't go well. We have high unemployment.
And, in the first two terms of Franklin Roosevelt, we simply did not
get out of the Great Depression. We had employment in the high teens
throughout Roosevelt's second term.
http://www.foxnews.com/story/0,2933,490965,00.html
Glenn Beck? You've got to be kidding!
-- Ernie
.
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