If you thought the recession has been worse than we were told, you were right. The Commerce Department has revised the GDP figures all the way back to 2007 and all the numbers set new records, the bad kind. There is no question that we haven’t seen numbers like this since the last Republican Great Depression.
The worst drop in consumer spending took place last year, falling twice as much as previously thought. This was the worst drop seen since 1942, which was the first full year of WWII when the production of all consumer goods was halted completely. FDR didn’t tell everybody to go shopping after his 9/11. Another fact is that the entire four years of the biggest war ever with 12 million Americans in uniform cost roughly a trillion in today’s dollars. Bush’s war has cost more than that, so far.
The Greatest Generation had a different sort of government in Washington, back then making a profit from the War was a crime and people went to prison. There were also no contractors in the war zone funneling money into Swiss bank accounts.
In short World War II was run like the New Deal on steroids and FDR was able to do things he couldn’t before to stabilize the economy. He set commodity prices across the board, farmers and small business never had it so good, anybody could get a job and every business could get a government contract. FDR engaged in Soviet style central planning and clamped down with unprecedented government regulation on everything.
We could get out of our current Depression with similar War Time measures if we wanted to since that‘s what conservatives want . FDR was also re-elected for a fourth term during the War. He did however live with an unheard of level of security, traveling in armored train cars and he fortified the White House. FDR maintained strict secrecy surrounding his movements but it probably wasn’t foreign assassins he was really worried about. www.prairie2.com