Posted by Tina
Thomas Sowell has good advice for the President if he will listen…there’s a lesson to be learned from our history:
Guess who said the following: ‘We have tried spending money. We are spending more than we have ever spent before, and it does not work.’ Was it Sarah Palin? Rush Limbaugh? Karl Rove? Not even close. It was Henry Morgenthau, secretary of the Treasury under Franklin D. Roosevelt and one of FDR’s closest advisers. He added, “After eight years of this administration we have just as much unemployment as when we started. … And an enormous debt to boot!” – “Roosevelt gets too much credit for ending Great Depression” (emphasis mine) – The Columbus Dispatch
Sound familiar? It should! Obama and Geitner are doing the exact same thing that Roosevelt and Morgenthau tried in the 30”s and it isn’t working any differently this time; unemployment remains high, business is in the dumper and inflation threatens as the dollar loses value. Obama Geitner are considering even more spending to fix this problem. That would be a huge mistake.
Will this election cause the President to reconsider? As he jets off to Mumbai (creating the biggest one shot footprint in the history of mankind in the process) it seems unlikely that he has the capacity to look out for the nation’s, or the worlds, best interest.
I’m always open to miracles and surprises but as in California the current crop of Dems seem to be slow learners (or suffering from insanity)!
History has written it correct, Roosevelt only delayed our recovery from the depression he did not end it with the WPA, etc. The Japanese faired much better because they actually employed conservative American ideas about how to manage their recovery and they did recover years ahead of the US.
LOL, Jack, that was some “delay”!!!!!
The Japanese failed to learn from their own history the last time around too, didn’t they? I think after their last big recession they did the tax and spend thing and didn’t pull out for eight to ten years!