The Economic Recovery Plan

I like looking at history and seeing how situations have previously been handled. It tells me something about problem solving and maybe more importantly, about the nature of people. 

“Our situation now is in some ways similar to that which confronted the United States and other Western nations shortly after World War II. Many economists then were predicting a return to depression once the stimulus of wartime spending was ended. But people were weary of wartime government controls, and here and in other nations like West Germany those controls were eliminated against the advice of some experts. At first, there was a period of hardship — higher unemployment and declining growth. In fact, in 1946, our gross national product dropped 15 percent, but by 1947, the next year, it was holding steady and in 1948 increased by four percent. Unemployment began a steady decline. And in 1949 consumer prices were decreasing. A lot of the experts underestimated the economic growth that occurs once government stops meddling and the people take over. Well, they were wrong then, and they’re wrong now.”

Ronald Reagan February 26, 1982 9th Annual CPAC Conference

Business as usual is taking place in Washington, DC. When that happens, business as usual on Main Street usually suffers. Take a look at history.

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