Despite the fact that the Great Depression dwarfs what we are going through (in every way), pay particular close attention to the stimulus response:
- 1934 - 1.5% of GDP increase in spending over 1 year
- 2009 - 3% of GDP increase in spending over 2 years (and that is just the stimulus package. We have yet to see how much the budget will increase).
- 1933 - Fed increases money supply by 17%
- 2009 - Fed increase money supply by 140%
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2 comments:
Pat,
I'm a social libertarian. Most consider libertarians to be the tightest pocketed politicians. I like many have mixed feelings about the stimulus. I have to trust that the government is doing what is right because everyone I voted for is in office. They have a great opportunity to both screw up royally and to do great things. We all know this however.
I just wanted to thank you for these stats and to say have a great weekend.
Ok. The link to this vid didn't work so here is one that does: http://www.youtube.com/watch?v=cWt8hTayupE
I feel so relieved that BO is working hard to cut the budget. lol.
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