The View From 1776
Saturday, August 13, 2011
Righting Liberal-Progressive Re-Writing Of History
When I was in school in the still monolithically Democratic, deep South during the 1940s and early 50s, we were taught that President Franklin Roosevelt had ended the Depression and instituted a system of monetary and fiscal policy that guaranteed that there would never be another major recession.
Experience and a review of actual employment and production numbers during the whole of the Depression proves both assertions were fiction, not fact.
So too is the liberal-progressive misrepresentation that there would have been no “Roosevelt recession” in 1937 but for a reduction in deficit, stimulus spending.
For an analysis, read Dangerous Lessons of 1937.