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lynk2510



Male Number of posts : 657
Registration date : 2011-01-31

PostSubject: e advocated that Americans    Fri May 06, 2011 9:46 am

spending increased from 8.0% of gross national product (GNP) under Hoover in 1932 to 10.2% of the GNP in 1936. Because of the depression, the national debt as a percentage of the GNP had doubled under Hoover from 16% to 33.6% of the GNP in 1932. While Roosevelt balanced the "regular" budget, the emergency budget was funded by debt, which increased to 40.9% in 1936, and then remained level until World War II, at which time it escalated rapidly. The national debt rose under Hoover, and held steady under FDR until the war began, as shown on chart 1.[86]
National debt from four years before Roosevelt took office to five years after the time that he died in office

Deficit spending had been recommended by some economists, most notably by John Maynard Keynes of Britain. The GNP was 34% higher in 1936 than in 1932 and 58% higher in 1940 on the eve of war. That is, the economy grew 58% from 1932 to 1940 in 8 years of peacetime, and then grew 56% from 1940 to 1945 in 5 years of wartime. However, the economic recovery did not absorb all the unemployment Roosevelt inherited. Unemployment fell dramatically in Roosevelt's first term, from 25% when he took office to 14.3% in 1937. Afterward, however, it increased to 19.0% in 1938 ('a depression within a depression') and 17.2% in 1939, and stayed high until it almost vanished during World War II when the previously unemployed were conscripted, taking them out of the potential labor supply number.[87]

During the war, the economy operated under such different conditions that comparison with peacetime is impossible. However, Roosevelt saw the New Deal policies as central to his legacy, and in his 1944 State of the Union Address, he advocated that Americans
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be_map1512



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PostSubject: Re: e advocated that Americans    Tue May 17, 2011 3:50 am

Unemployment fell dramatically in Roosevelt's first term, from 25% when he took office to 14.3% in 1937. Afterward, however, it increased to 19.0% in 1938 ('a depression within a depression') and 17.2% in 1939, and stayed high until it almost vanished during World War II when the previously unemployed were conscripted, taking them out of the potential labor supply number

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