More than 20 years ago, UCLA professors Lee Ohanian and Harold Cole, now a University of Pennsylvania professor, produced a report that showed President Franklin D. Roosevelt's policies not only didn't end the Great Depression, they extended the misery by seven years.
Simply put, there was too much government intervention in the economy.
FDR's policies and those of President Joe Biden and the Democrats are not entirely analogous.
We can expect at best a sclerotic economy, and depression-like conditions, if the Biden bills become law.
The unbridled spending will exacerbate the inflation that's disrupting the U.S. economy as well as compound the supply chain problems that are blowing "a stagflationary wind through the global economy."
"At the end of the day," Ebeling says, Biden's "Policies can only lead to a financial and economic disaster."
Just as Roosevelt's policies sharply increased the size of the federal government, so would the Biden spending.
https://issuesinsights.com/2021/10/05/does-biden-want-a-depression-of-his-very-own/
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