BACK - To A Brighter Future
Barack Obama had hoped that Congress will hand him to the inauguration of a worthy
gift - a ready-made plan to stimulate the economy, totaling approximately $ 800 billion so that it could mark the first day of his reign, a grand accomplishment. Alas, legislators let us down, work on the bill will be completed well, if by mid-February. You can imagine how disappointed Obama - the most Franklin Roosevelt with his "100 days" do not have dreamed such a spirited start. The plan broke, but he made it clear whom he took as a model for imitation head of the new Democratic administration.
The parallels between the current situation and environment in which FDR came to power, are obvious. But for clarity soon after the elections, Time magazine made the cover montage - Barack Obama is in the image of Roosevelt and the historical picture: the president in a hat and eyeglasses, holding in his teeth triumphantly flung like a battle flag, a cigarette in a long holder, provocatively smiles to readers of the wheel open limousine. And that really is not leaving any doubt about the symbolism of the image, caption under it reads: "new New Deal.
That is, the newly elected 44 th President of the United States openly touted as the second coming of 32-president, and his domestic program - as a logical continuation of the policies of Roosevelt. Because this is not a sin to remember how he struggled with the economic crisis and what the results of his efforts.
In grateful memory of the descendants of Franklin Delano Roosevelt stayed as the savior of the nation, as the genius behind a series of brilliant maneuvers brought America out of a deep economic crisis and laid the foundations for future prosperity of the United States. But this heroic image - pure fiction, a myth created by tireless work of leftist propagandists. In fact, FDR not only failed to overcome the economic turmoil, but its feverishly absurd policy has pushed the country deeper into the quagmire of recession, from which it pulled out only the Second World War.
The method of overcoming the economic downturn that followed Franklin Roosevelt, was developed by the famous British economist John Maynard Keynes and consequently bears his name. Keynesian model involves stimulating the economy through massive government spending on large-scale public works program to create new jobs. In turn, expansion of employment, according to Keynes, should help to maintain a high purchasing power, creating increased demand for goods and services and thereby fueling the economy.
This was the essence of the New Deal, Roosevelt proclaimed after coming to power. In any case, this is the official version of the progressive historians. In fact, the "new" programs FDR were not fresh. Most of them were a continuation and development initiatives of his predecessor, Herbert Hoover's (as told to Mikhail Gorbachev, Hoover began, and Roosevelt deepened.)
For all its popularity keynsovskaya technique has a fatal flaw that nullifies its possible stimulatory effect: it requires money, and considerable. Where did they get it? The options are not a lot: go into debt and jeopardize the reputation of the government, run the printing presses and flooded the country fiat money, with the inevitable and quick payback in the form of a sharp rise in inflation, and finally, squeeze the necessary funds from the productive part of the population through confiscatory levies, the oppressor economic activity .
Hoover and Roosevelt went through the last. The government dramatically tightened fiscal policy: from 1930 to 1940 GG the top income tax rate increased from 25% to 79%, the rate of corporation tax was doubled from 12 to 24% beyond that Roosevelt has invented a new tax - on the "excessive profits". He also introduced the excise tax on dividends, the tax on securities and increased the tax on alcoholic beverages. Finally, he established a program of compulsory social insurance deductions from wages in the amount of 2%.
Thus, for the funding of federal programs (known to be ineffective, as he could tell any basic literacy economist) FDR actually levy the only true source of economic growth and prosperity - the private sector.
BACK - To A Brighter Future
By: Gwendolin
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