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  1. #14
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    Quote Originally Posted by smittyii View Post
    usually spurred by spending CUTS, oh and tax cuts. the great depression never ended until ww2 was rollin. fdr never could spend his way out of that one.
    What do you think WW 2 was if not deficit spending combined with price fixes and rationing? The fact is that FDR should have been running larger deficits in the 1930's.

    During the 1930’s, in spite of the high unemployment and depressed growth, budget balancing was never far from the forefront of political purpose. Belief in a balanced budget prevented government relief programs from ending the depression, and when Roosevelt honored his 1936 campaign pledge to balance the budget in 1937, the economy suffered a major setback with unemployment jumping back to 19.1% from a seven year low of 14.3%. Public works programs that were ‘paid for’ by other spending cuts or by tax increases could not reduce unemployment as there was never enough net government spending to accommodate desired H(nfa). The largest deficit of the 1930’s was 5.9% of GNP in 1934, and it was down to 0.1% of GNP by 1938.

    The almost balanced budgets in the late 1930's attributed to the worsening of the economy.

  2. #15
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    Quote Originally Posted by pageyjim View Post
    What do you think WW 2 was if not deficit spending combined with price fixes and rationing? The fact is that FDR should have been running larger deficits in the 1930's.

    During the 1930’s, in spite of the high unemployment and depressed growth, budget balancing was never far from the forefront of political purpose. Belief in a balanced budget prevented government relief programs from ending the depression, and when Roosevelt honored his 1936 campaign pledge to balance the budget in 1937, the economy suffered a major setback with unemployment jumping back to 19.1% from a seven year low of 14.3%. Public works programs that were ‘paid for’ by other spending cuts or by tax increases could not reduce unemployment as there was never enough net government spending to accommodate desired H(nfa). The largest deficit of the 1930’s was 5.9% of GNP in 1934, and it was down to 0.1% of GNP by 1938.

    The almost balanced budgets in the late 1930's attributed to the worsening of the economy.
    where did you find that BS, in the daily worker??? the war was paid for by almost full employment and war bonds made up the rest. deficit spending never has gotten any nation out of economic stress.
    "When the people find they can vote themselves money,that will herald the end of the republic" - Benjamin Franklin

    "Government is not reason, it is not eloquence, it is force;like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action"- George Washington

  3. #16
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    Quote Originally Posted by smittyii View Post
    where did you find that BS, in the daily worker??? the war was paid for by almost full employment and war bonds made up the rest. deficit spending never has gotten any nation out of economic stress.
    We went from almost balanced budgets to record deficits in WW2. It is history you can find it anywhere, anywhere but Fox I guess.

    http://boingboing.net/2010/02/04/was...posts-gra.html

  4. #17
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    what would be a record deficit in 1942?
    "When the people find they can vote themselves money,that will herald the end of the republic" - Benjamin Franklin

    "Government is not reason, it is not eloquence, it is force;like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action"- George Washington

  5. #18
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    Quote Originally Posted by smittyii View Post
    what would be a record deficit in 1942?
    Here. pick which article you like

    http://www.bing.com/search?q=US+defi...ox&FORM=IE8SRC

  6. #19
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    from what i read , the statistics back what i'm saying. ww2 deficits were directly borrowed from the American people in the form of war bonds. if you look at the graphs even the natl debt was at pre war levels once the bonds matured and were paid off. if you look at when deficit spending really started its upward tick was 1965 (the year medicare and medicaide took effect). coincidentally the year the last batch of war bonds matured. coincidence?
    "When the people find they can vote themselves money,that will herald the end of the republic" - Benjamin Franklin

    "Government is not reason, it is not eloquence, it is force;like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action"- George Washington

  7. #20
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    Quote Originally Posted by smittyii View Post
    from what i read , the statistics back what i'm saying. ww2 deficits were directly borrowed from the American people in the form of war bonds. if you look at the graphs even the natl debt was at pre war levels once the bonds matured and were paid off. if you look at when deficit spending really started its upward tick was 1965 (the year medicare and medicaide took effect). coincidentally the year the last batch of war bonds matured. coincidence?
    And that is what is different from today and years gone by. Inflation and debt does not really matter as much as long as those that hold the debt is from your country and they use the money in your country. But when you borrow the money from outside of your country it is just wealth that flies out the door.

  8. #21
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    Our national debt in WW2 rose about 550%. The majority was in bonds held by us. It still showed how it was deficit spending brought us out of the depression.

    Today about 27% of our debt is foreign owned.

  9. #22
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    Quote Originally Posted by pageyjim View Post
    Our national debt in WW2 rose about 550%. The majority was in bonds held by us. It still showed how it was deficit spending brought us out of the depression.

    Today about 27% of our debt is foreign owned.
    I find it a bit higher. With 13.7 trillion and 4269 trillion of foreign debt about 31%.

    http://www.ustreas.gov/tic/mfh.txt

  10. #23
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    Quote Originally Posted by printer2 View Post
    I find it a bit higher. With 13.7 trillion and 4269 trillion of foreign debt about 31%.

    http://www.ustreas.gov/tic/mfh.txt
    Your link is more current as my figues were from 2008.

  11. #24
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    Quote Originally Posted by pageyjim View Post
    Your link is more current as my figues were from 2008.
    What is a few billion between friends.

  12. #25
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    Quote Originally Posted by pageyjim View Post
    Our national debt in WW2 rose about 550%. The majority was in bonds held by us. It still showed how it was deficit spending brought us out of the depression.

    Today about 27% of our debt is foreign owned.
    so the full employment had nuthin to do with it? if you will dig deeper you will notice that the great liberal icon JFK slashed corporate and personal income tax rates about the time the bonds were paid off. too bad he was killed because the next guy was a straight up socialist, bent on expanding government and redistributing wealth. that my friend is the difference between a LIBERAL and a SOCIALIST.
    "When the people find they can vote themselves money,that will herald the end of the republic" - Benjamin Franklin

    "Government is not reason, it is not eloquence, it is force;like fire, a troublesome servant and a fearful master. Never for a moment should it be left to irresponsible action"- George Washington

  13. #26
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    Quote Originally Posted by smittyii View Post
    so the full employment had nuthin to do with it? if you will dig deeper you will notice that the great liberal icon JFK slashed corporate and personal income tax rates about the time the bonds were paid off. too bad he was killed because the next guy was a straight up socialist, bent on expanding government and redistributing wealth. that my friend is the difference between a LIBERAL and a SOCIALIST.
    The almost full employment was a result of the deficit spending.

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