Iriemon

We started coming out of the depression in 1934 with the New Deal, well before WWII.

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PeteEU

No reasons arguing with certain people on the right. They have been trying to change historical fact towards their political ideology at the expense of the facts since before Bush Jr got into office. Let me remind you of the now famous words from Bush that basicly blamed the Iron Curtain on the Democrat Roosevelt, or some people on these boards (one or two now banned) who continue to try to label the Nazies as "socialists", "liberals" or other similar. The right can stomach the facts that they are just as bad if not worse (if we go back further than 100 years) than the left on economics and other policies.

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PeteEU

ARealConservative

based on GDP figures, right?

We could prevent all recessions by creating liquidity and allowing the government to spend enough to ensure that GDP goes up.

PeteEU

And you do know that's the way most governments (liberal and conservative) do right? Even your own dear Furher Bush did it for peak sake. After 9/11, when a huge rescission hit, what did he do? He started a war that spends billions every week and yes that improves the economy. Sure go ahead and claim his tax cuts did all the "growth" that is now gone, but just try to disprove my argument that the Iraq war did not have a beneficial economic hit to the US economy in the short term, because of the huge spending increase of the Bush administration.

FDR did it too.. he knew that the private sector did not have the will to dig the US out of the depression, so he started huge building projects, improved the lives of millions and that kick started the economy, because people got back to work in the huge building projects.

They do it in Europe too. The Channel tunnel... you really think that the money poured into this pit by Thatcher was "wasted" and did not energize the UK and French economies? Or in Denmark, when we built not one but two huge bridges connecting Scandinavia with the rest of Europe? If you seriously believe that government funded and driven projects are a "waste" then you need your head examined frankly.

And face it GDP growth (and more so its variants) is the way that we measure growth in a country. Not the stock market, not the jobless claims, its GDP growth.

Iriemon

How do you claim the economy was not out of the depression until WWII?

The fallacy of your argument about spending is inherent in its own contradictions.

If what you say is true, then we'd see stronger GDP growth in periods were there is stronger Govt spending growth. But we see the opposite:

Year - Govt outlay $2000 - % chng
1981 1147.2 4.9%
1982 1188.8 3.6%
1983 1239.8 4.3%
1984 1259.2 1.6%
1985 1357.6 7.8%
1986 1390.0 2.4%
1987 1371.8 -1.3%
1988 1406.3 2.5%
1989 1455.8 3.5%
1990 1536.0 5.5%
1991 1568.4 2.1%
1992 1599.5 2.0%
1993 1594.8 -0.3%
1994 1619.7 1.6%
1995 1645.7 1.6%
1996 1662.7 1.0%
1997 1678.3 0.9%
1998 1713.0 2.1%
1999 1739.0 1.5%
2000 1788.8 2.9%
2001 1820.1 1.8%
2002 1930.2 6.0%
2003 2027.7 5.1%
2004 2094.1 3.3%
2005 2187.8 4.5%
2006 2277.1 4.1%

The table shows real outlays in 2000 dollars and the percentage change.

1981-1990 was, with one exceptions, characterized by strong spending growth. Real GDP growth averaged 3.3%

93-99 was a persiod of slow spending growth; real growth never exceeded 2%. GDP average change: +3.7%

02-06 another period of strong spending growth. Real GDP average change: 2.7%.

In situations where individuals and banks are hording, not spending, as in the great depression, that would be effective. In a typical recession you don't have those factors, and if individuals are spending, Govt spending transfers the spending from taxpayers to the Govt, without much net effect.

MrVicchio

Highly educated economist cited in the opening article disagree with you.

Yet, you are one who believes that "Government is the salvation of us ALL!" So you cannot accept the facts, you IGNORE them, and create your own reasoning, ignoring that evidence presented because it reaches a conclusion you cannot accept.

No wonder you're voting Obama....

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ARealConservative

you partisan hacks can't stop making false assumptions.

Iriemon

Inaccurate blather.

Government is in fact the salvation of us all because without it we'd have chaos and anarchy. The issue is the role the government should play. History shows that in situation where the market is collapsing under their own psychology, Government intervention can help restore the market system to functionality.

I not only accept the facts, I post them in the form of published data from the US government. You and others don't like what they represent and so it is you IGNORING the facts.

As far as the article, the highly educated economist may very well have his own agenda, as someone else pointed out. But you've cited him for authority. You can either defend the authors argument against the US Government data I've presented, or not. If you can't, that tell me the authori's argument, which seems to be contradicted by the US Govt data, is suspect. Others can make their own conclusions.

Iriemon

Another conservative reduced to resorting to personal attacks when he cannot defend his own argument based on facts and reason.

I can't say it is unexpected; we see it all the time.

allsogreat

There's no doubt that FDR's New Deal hastened recovery from the Great depression...the GDP proves it (unless your stupid)...and who really cares at this late date....that was then and this is now...will the current planned Bailout stop the Stock Market slide and prevent a depression...who knows, the bailout will surely happen....our elected criminals will eventually push it thru.......there is a quotation attributed to President Reagan "The most terrifying words in the English language are: I'm from the government and I'm here to help."

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