Saw a letter in the paper yesterday. The guy was absolutely correct in making the parallel that both President Roosevelt and President Obama inherited severe economic conditions. Like FDR, Obama’s solution is to re-invigorate the economy through a massive increase in the size of government. He has even convinced some that growing government jobs is the way to go. The information left out of this parallel is that after 6 years of FDR’s government based solutions, he had managed to get the unemployment rate in 1939 all the way down to 19%!
So, why would any one think that government expansion would work this time?