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Roosevelt’s agenda was not without its international admirers. The chief Nazi newspaper, Volkischer Beobachter, repeatedly praised “Roosevelt’s adoption of National Socialist strains of thought in his economic and social policies” and “the development toward an authoritarian state” based on the “demand that collective good be put before individual self-interest.” Roosevelt himself called Benito Mussolini “admirable” and professed that he was “deeply impressed by what he (had) accomplished.”
FDR’s very own treasury secretary, Henry Morgenthau, saw the folly of the New Deal, writing: “We have tried spending money. We are spending more than we have ever spent before and it does not work. … We have never made good on our promises. … I say after eight years of this Administration we have just as much unemployment as when we started … and an enormous debt to boot!” The bottom line is that Roosevelt’s New Deal policies turned what would have been a three- or four-year sharp downturn into a 16-year affair.
The 1930s depression was caused by and aggravated by acts of government, and so was the current financial mess that we’re in. Do we want to repeat history by listening to those who created the calamity? That’s like calling on an arsonist to help put out a fire.
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