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To be fair, that wasn't (mostly) FDR's policy. It was mostly a pushback by right-wing congresscritters who went all chicken little on the deficit.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sun Jan 24th, 2010 at 07:32:10 PM EST
[ Parent ]
You mean like everyone and their mother is now going chicken-little on the deficit and on inflation fears and on loss of investor confidence on state debt?

On the latter, I think it is wrong to interpret the recent rise in government bond yields as a sign that the sustainability of public finances is at risk.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Mon Jan 25th, 2010 at 05:03:03 AM EST
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