“We have tried spending money,” begins our mystery politician today. “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!"
The mystery man? Henry Morgenthau Jr., Treasury secretary to then-President Franklin Delano Roosevelt.
Morgenthau uttered these words in May 1939 before the House Ways and Means Committee. Despite being a chief architect of the New Deal, Morgenthau came to the House to repent… six years after the New Deal’s inception, the unemployment rate had climbed back to 20%. The New Deal failed.
Check this out on the left, from the Heritage Foundation:
“And an enormous debt to boot!"
The mystery man? Henry Morgenthau Jr., Treasury secretary to then-President Franklin Delano Roosevelt.
Morgenthau uttered these words in May 1939 before the House Ways and Means Committee. Despite being a chief architect of the New Deal, Morgenthau came to the House to repent… six years after the New Deal’s inception, the unemployment rate had climbed back to 20%. The New Deal failed.
Check this out on the left, from the Heritage Foundation:
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