First it was Sen. Hillary Clinton who last month said, “Once we get through this immediate crisis, the country should look at some Great Depression-Era type of government entity to deal with it.”
Now Sen. John Kerry says the “change” we need to deal with the current financial crisis s to reinstall President Franklin Roosevelt’s “New Deal.”
At a Boston Herald editorial meeting yesterday, John Kerry said:
“The nation’s battered economy needs an old-fashioned “Rooseveltian lift” of regulatory reforms and government spending on the infrastructure, clean energy and other sectors.”
Calling current financial woes the most “complicated economic time we’ve had since the Great Depression,” Kerry said new approaches are needed to reform the current financial system.
“We’re operating with old institutions that are incapable of responding fast enough, dealing with vast sums of money that cross boundaries in different financial centers,”
John Kerry says we are operating with old institutions so he wants to re-install even older operating institutions.
I’m waiting now for Barack Obama to jump on board and re-define once again his “hope and change” message to that of FDR’s failed plan of 1933.
Roosevelt inherited what was a deep recession and turned it into a 12-year depression. While most European countries had shaken off the depression in just a few years, the United States had to suffer until our entrance into World War II to recover.