As conservative economics collapses disastrously under the weight of its many, many lies, it is only natural that the liars fall-back position is to take aim at the hope of actually cleaning up their mess. And hence the sudden rise of New Deal denialism. It's not as if this comes out of nowhere. It comes out of the same sorts of folks who denied the New Deal as it was succeeding right before their very eyes. And it comes out of the right-wing think tank complex. And it gets spouted by George Will on ABC This Week. And it's a load of bull. Video of Will on the flip. Pride of place to this simple diagram (click to enlarge), which shows the truth: the New Deal was working just fine, until FDR, with a premature sense of relief, and a lingering belief in the old economics, decided it was time to go back to balanced budgets, thus precipitating the recession of 1937/38. It was, in effect, a text-book science experiment: turn the New Deal stimulus policies on, economic goes up, turn them off, economy goes down. But Will--and many others--are trying to pretend the exact opposite, that FDR's policies remained constant, and proved disasterous in 1938:
rest at http://www.openleft.com/showDiary.do?diaryId=10117
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