I have said fifty times that the budget will be balanced for the fiscal year 1938. If you want me to say it again, I will say it either once or fifty times more.
—Franklin D. Roosevelt, just before the 5 percent decline in real GNP and increase in unemployment from 14.3% to 19.0% from 1937 to 1938.
« National Debt Semantics Demystified and Depoliticized | Main | Our Grandchildren's Debt Burden in 2050: 540 scenarios »
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451c0c869e200d83523cbbb53ef
Listed below are links to weblogs that reference FQ.05.48b: Favorite Quote for This Half-Week:
Popular Posts
Recent Posts
- Two surprises: China doesn't own us; and the debt burden is relatively low
- The payroll tax holiday: Throwing FDR under the bus
- Class warfare can be good for us
- Balanced Budget Amendment: Why it's a bad idea
- How the Democrats and the Tea Party botch Reagan's legacy
- Principles vs. Tribal Loyalties
- Bernanke’s response
- For the middle class, one less thing to worry about
- Social security privatization: a plan both left and right could like
- USA's debt burden unchanged in ten years
