Flame — HabitableZone

Flame » in reply to Well...

New Deal Unemployment stats
Buck Galaxy — (archived)

Here you go. It is consistent with what I said earlier, the New Deal worked.

Unemployment went from 3.2% in 1929 to 23.6% in 1932 with the "let the market fix the problem" crowd in power. Under FDR, Unemp went from 24.9% in 1933 to 14.3% in 1937. As I pointed out before, republicans took advantage of FDR's weak political position in '38 and there was no New Deal legislation that year, so along with the one year economic contraction there was a rise in Unemp to 19%. It went down to 17% in '39 when deficit spending resumed.

So there you have it. All the data regarding Debt, GDP and Unemp all specifically point to the success of the New Deal spending policy, and also makes equally clear the negative consequences of no deficit spending during bad times.

The numbers do not lie.

Log in or register to post.

The whole thread (94 posts)