Interviewed this morning on CBS’s The Early Show for her thoughts on the proposed $700 billion government bailout, Senator Hillary Clinton agreed the situation is critical and that something must be done quickly. Clinton went on to suggest,
“Once we get through this immediate crisis, the country should look at some Great Depression-Era type of government entity to deal with it.”
I sure hope Clinton is not suggesting the next president re-constitute Roosevelt’s socialist government programs of the WPA (Works Progress Administration) and the CCC (Civilian Conservation Corps). It was programs like this that turned what should have been a two-year recession into a twelve-year depression.
I read once that, “despite all President Roosevelt’s efforts and the courage of the American people, the Depression hung on until 1941…”
The Great Depression lasted 12 years – not “despite all Roosevelt’s efforts”, but because of Roosevelt’s misguided efforts.