Free Republic

Krugmanomics by: Daniel Allen, March 13, 2009 For months now, policymakers and critics have been calling this the worst economic crisis since the Great Depression. Likewise, many wonder if President Obama’s recovery plan has the ingredients to match the alleged success of the New Deal. Americans refer to the post-depression era in fondness, citing a time when the country overcame a series of seemingly insurmountable challenges to become stronger than ever before. What can we learn from the economics of that time? What can it tell us about how to resolve today’s economic concerns? Economist Paul Krugman explains one of...

H.R. 1 "The American Recovery and Reinvestment Act"i.e.: The US Congress' Spend & Tax Free Lunch Act Well, here is what Obama wants. Read it. Highlight the pork.Then, call your Senators/Congressmen and tell 'em: "No way!"

Robert MorleyColumnist The United Ponzi States of America January 20, 2009 | From theTrumpet.com If you thought Madoff’s Ponzi scheme was bad, don’t look now, but you’re in one. Robert Morley Anyone can work a simple swindle. But you need to be a special kind of con man to bilk billions from otherwise intelligent people. Bernard L. Madoff was one such man. Charles Ponzi was another. But the biggest fraud and scam master of all goes by the name of Uncle Sam. Just what does a person have to do to make his name synonymous with fraud? Charles Ponzi, the...

“Morgenthau, after being in charge of this economic debacle called the New Deal, finally sort of exploded in 1939 and said, ‘We are spending more money than we have ever spent before, and it does not work,” quoted Folsom. “‘I want to see this country prosperous. 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 an enormous debt, to boot.”

OXFORD, Miss. -- President-elect Barack Obama has announced plans for a new stimulus package containing $500 billion to $700 billion worth of public works projects. The package would be “the single largest new investment in our national infrastructure since the federal highway system,’’ he said. America’s governors already are scrambling to compose lists of “shovel-ready’’ projects so no bridge or highway is left behind. But while a “new’’ New Deal will produce certain visible results — more construction materials will be sold, more construction workers will be employed and some of the nation’s infrastructure may indeed be improved — it...

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. "Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10-...

President-elect Barack Obama committed Saturday to the largest public works building program since the creation of the interstate highway system a half century ago as he seeks to put together a plan to resuscitate the reeling economy. “We need action — and action now,” he said in an address taped for broadcast Saturday morning on radio and YouTube. The address followed the latest grim economic report indicating the country lost 533,000 jobs in November alone, bringing the total job loss over the past year to nearly 2 million. Although Mr. Obama remains weeks away from taking office, the report ratcheted...