Thursday, July 29, 2010

Keynesian Economics

"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and now if I am wrong somebody else can have my job. I want to see this country prosper. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this administration, we have just as much unemployment as when we started. And enormous debt to boot."

Henry Morgenthau, who was Roosevelt's Secretary of Treasury from 1934-1945. Quoted from his diary, May 1939.

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