From A Different View On Politics:
Franklin D. Roosevelt was able to drive the country out of the depression by increasing the taxes and getting involved in the war. The comparison to this day is very similar. We are in a war, the tax rates are at 28%. Do we want a President who will cut taxes and potentially bankrupt the US or raise taxes and be honest about it?
Anyone who wants New Deal style solutions should read more on the subject. Check out Amity Shlaes’ book, which isn’t a bad read at all.
Or at least this: FDR’s policies prolonged Depression by 7 years, UCLA economists calculate.
UPDATE: Also from A Different View On Politics:
We may not enter a 1929-1941 style depression and if we do the stakes are a lot higher. We have an unstable middle-east, nuclear proliferation is a big concern, our relationship with Russia is at the lowest point and we have a global economy that is supported by us. The earlier depression was limited to the US; the next depression will have a global impact and will cause geopolitical instability.
Actually, it wasn’t just limited to the US and it started something called World War II. So the next Great Depression will actually be just like the first! A comforting thought, I know.
