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Monday, August 8, 2011

Bringing on the "Obama Recession" by Forgetting the Lessons of Keynes and FDR | Truthout

Bringing on the "Obama Recession" by Forgetting the Lessons of Keynes and FDR | Truthout
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1 comment:

  1. RAYLOKEAugust 8, 2011 at 2:37 AM

    The effects of the Keynesian-style deficit spending that the administration had been engaged in under the terms of the early New Deal, the President was advised to cut the budget, reduce deficit spending and tighten the money supply as a means to stave off inflation. Heeding their word (and no economist himself), FDR did just that.

    The results were an unmitigated disaster.

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