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View Diary: POTUS and Rep. Pelosi Announce Plans to Win Back the House (317 comments)

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  •  1933 = Keynsianism stimulus, (2+ / 0-)
    Recommended by:
    Onomastic, aitchdee

    1938 = David Cameron style austerity.

    But that doesn't prove that Obama should have spent in 2009 the same amount as FDR spent in 1933, since FDR was facing much larger problem that had been going on for three years.

    •  Forget about FDR (0+ / 0-)

      the issue is measuring what happened in 2009, and fitting a solution scaled to the problem. NO?

      The entire ARRA was 787 billion, including tax cuts. Thats 5,2% of GDP.

      U6 peaked at 17.2%, thats about 27 million jobs. Using a multiplier of 2, spending 1.4 trillion would create 28 million jobs.. Thats 9.3% of GDP.

      Christine Romer wanted to spend 1.8 trillion - Dean Baker 1.2 trillion, they got these numbers by, in part measuring the contraction in jobs.

      .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Sat Jun 08, 2013 at 11:32:20 AM PDT

      [ Parent ]

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