Politics

A Lesson from the Great Depression

Amity Shlaes, author of “The Forgotten Man: A New History of the Great Depression” discusses the lessons we can draw from FDR?s failure to ?fix? the economy. Tellingly, she quotes then Treasury Secretary Henry Morgenthau, who testified before the House Committee on Ways and Means towards the end of the 1930s and said: ?We have tried spending money. We are spending more than we have ever spent before and it does not work. . . . I say, after eight years of this administration, we have just as much unemployment as when we started . . . and an enormous debt to boot.”

As they say, those who do not learn from history are doomed to repeat it.-Paul Balzano- Legislative Assistant to Rep. Mike Conaway

Full post as published by Mike Conaway's Blog on February 02, 2009 (boomark / email).