Today even the Democrats are talking about spending cuts instead of investment in America and the American people.
In 1932, when Franklin Roosevelt took office after years of Republican rule, our nation had an unemployment rate of 30 percent. By the beginning of World War II that rate was less than 10 percent, with only one year of regressing in that time, due to the cuts in spending.
How did we go from that to the greatest society the world had ever seen? We invested in America and Americans. We built things Hoover Dam, Golden Gate Bridge, the California canal, and on and on. At times we were investing 150 percent of the gross domestic product. But it put people to work, and we increased wages so the working people were finally earning a livable wage and buying products.
Even though we were building things we could not afford, it created jobs and that created growth in the economy. Even with all that government spending, our national debt never reached a trillion dollars until the 1980s when we changed our economic system and went to free market capitalism, the very system that brought us the Great Depression in 1929. Do we never learn?