Could Obama Be in Worse Shape Than FDR?

Few would argue that our economy is in tough shape, but worse than FDR? Constantine von Hoffman, from BlownMortgage.com seems to think so.

She sets her argument on three fundamental premises:

  1. Obama does not have the debt capacity that FDR had to invoke Keynesian principles
  2. FDR had excess manufacturing capacity left over from WWII
  3. FDR did not have two ongoing wars draining national resources

 

It is a very interesting read with some good background research and references. Her bottomline:

The only real solution is so politically difficult that no elected official will ever suggest it: Take the hit.

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Give it a read. I think you will enjoy it.

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