February 1942: FDR announces plan to halve deficit in 4 years

[Kurt_and_Hunter]

Not.

[tritsofme]

1. FDR tried to cut spending and balance the budget in the late 30s IIRC.

Pushed the nation right back into recession.

[DJ13]

3. FDR was listening to the Republicans

That was a stupid idea.

[Captain Hilts]

5. Yep. nt

[Clio the Leo]

2. Yeah cause 1942 was the PERFECT opportunity to cut back on defense spending. ;-) NT

[AllentownJake]

4. This isn't exactly 1929

There are comparisons but in reality we are actually in worst shape due to the threat of hyper-inflation because of the mismanagement of the FED the past 30 years than we were during the Great Depression.

[depakid]

7. errr.... the risk is DEFLATION

and a liquidity trap.

[gristy]

8. Deflation in the short term

Inflation comes later

[Captain Hilts]

6. I 'got' it and I don't 'get' it either. nt