But now we owe principal and interest for it all. If we hadn’t borrowed the money, I suspect the whole world would be better off. Typical FDR thinking on the part of the Democrats.
Let’s even say for the sake of argument that it had worked as it was sold - since it was debt financed it just transferred the hard times to a future date. That solves nothing.
Since it didn’t work at all - it just created even more hard times for a later date when the bill becomes due. Ridiculous policy.