Jim Devine wrote:
In the Shadow of Hoover
Capitolism
By William Greider
November 23, 2009
While he was in China, Barack Obama made a bizarre declaration that
the US government must reduce its budget deficits in order to avoid "a
double-dip recession." The remark was alarming because it suggests the
president may not fully understand the country's economic predicament.
Deficit spending is a cure for our troubles, not the cause. If Obama
follows through and actually reduces the red ink, the Great Recession
could be born again with new fury.
Yeah, some people keep hoping that Obama might become the avatar of FDR
when it should be obvious at this point that his inspiration is Herbert
Hoover.
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