Thursday, February 5, 2009

Why We Don't Want (Or Need) Another New Deal (Updated)

There's a lot of talk about what the government should do to address the current financial crisis. My answer to this question is, government should do almost nothing. The more the government tries to fix things, the more muddled they are likely to become and the longer the current recession is likely to last.

This article opinion piece relays a brief history of the New Deal and explains why a majority of the actions taken by FDR ultimately prolonged the Great Depression. Read and forward it to everyone you know who thinks government's job is to take care of you.

Update: The Congressional Business Office likes the new stimulus package over the next two years, but says it will reduce GDP over the next ten years compared to if the government does nothing.

This doesn't fill me with confidence, either.

(this was originally posted at 7:17 am)


  1. While the Wall Street Journal is, in theory, a credible source, I would like to point out that this is an opinion piece.


  2. It is. It's an opinion piece that cites statistics, judicial history and other facts to support its ideas. I read "straight news" pieces every day that don't do any of those things. But your point is taken. I will fix the description.

  3. Thanks. :)

    For the record, I agree with you.