Recent research suggests that New Deal programs may actually have had their primary impact on the economy by influencing consumer and business expectations of future growth and inflation.
Sentiment: NEGATIVE
America needs a new approach to boost the economy - one that does not doom future generations to being saddled with paying off today's federal deficits.
The New Deal was going to redistribute the national income according to ideals of social and economic justice.
Increased business sales would almost certainly raise the productive capacity of the economy by encouraging additional capital spending, especially if accompanied by reduced uncertainty about future prospects.
A national government using New Deal programs and the massive defense spending beginning with World War II and continuing through the Cold War was Johnson's vehicle for expanding the Southern economy and making it, as he hoped, one of the more prosperous regions of the country.
In short, both experience and economic theory imply that the US could now t to a more competitive dollar without experiencing either increased inflation or decreased economic growth.
Stronger productivity growth would tend to raise the average level of interest rates and, therefore, would provide the Federal Reserve with greater scope to ease monetary policy in the event of a recession.
The New Deal exists principally on an emotional plane for Obama. To him, the New Deal is something you play like a song, to make you or your constituents feel better.
The Obama administration's large and sustained increases in debt raise the specter of another financial crisis and large future tax increases, further chilling business investment and job creation.
Wall Street excesses helped lead to the Great Recession.
When the economy is growing, there's a lot that can be done to deal with the deficit.
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