Sorry, no results found!

Searching...

      More...
    LIE


    The New Deal did not lower unemployment

    TRUTH

    Except for a brief recession, unemployment fell and the economy grew every year of the New Deal


    University of California-Davis history professor Eric Rauchway noted in a 2007 Slate article: "Except in the 1937-38 recession, unemployment fell every year of the New Deal. Also, real GDP grew at an annual rate of around 9 percent during Roosevelt's first term and, after the 1937-38 dip, around 11 percent." Further, New York Times columnist and economist Paul Krugman wrote that it was a reversal of New Deal policies that contributed to rising unemployment during the 1937-38 recession. In a 2008 column, Krugman wrote: "After winning a smashing election victory in 1936, the Roosevelt administration cut spending and raised taxes, precipitating an economic relapse that drove the unemployment rate back into double digits and led to a major defeat in the 1938 midterm elections."