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| Joe Bakewell. |
CONCERNED.
The Great Depression crunched jobs and spending, building pent up desires and needs. Roosevelt blundered by blaming business men for the depression and running against them in 1936, thereby prolonging the Depression. Preparations for WW2 got things moving again, and the war provided lots of good-paying jobs but a growing shortage of goods and services. Government debt grew dramatically. Vaudevillians came out of retirement to sell bonds. The shows themselves became a source of jokes, usually containing the selling point: “I’ll buy bonds.”
After the war, millions of men came home. Reabsorbing them became a problem. The GI bill became the most successful government program ever. Later I personally benefited with money for schooling and a mortgage.
Currently government debt, with more coming, is getting scary. Hopefully, the payoff will be greater (in dollars) than the investments cost, thereby paying off the debt and increasing our standard of living.
Judging by the behavior of the majority of our elected representatives and their spending orgy, I’m concerned.
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