"An Unemployment Report That Screams Spectacular Failure," by Charles Kadlec - Forbes. Wrong! It screams for more: for public jobs and United States Notes!

...when the government purchases the computer, it is financed through government exactions of one form or another. At the end of the day, every dollar spent is taken either directly through taxation or borrowing, or indirectly through inflation.  As Milton Friedman said, government spending is taxation.
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"An Unemployment Report That Screams Spectacular Failure," by Charles Kadlec - Forbes. Wrong! It screams for more: for public jobs and United States Notes!

Forbes Article author, Charles Kadlec

...Secretary of the Treasury Henry Morgenthau in 1939 told the House Ways and Means Committee:"We have tried spending money.  We are spending more than we have ever spent before and it does not work...We have never made good on our promise.  I say after eight years of this administration we have just as much unemployment as when we started. And an enormous debt to boot!" No truer words could be spoken today.

via An Unemployment Report That Screams Spectacular Failure - Forbes.

That is absolute nonsense. See my immediately preceding blog post: "Bill Still on Monetary Reform: 'SR 23: Baby Birds'."

You may also do a site search on "United States Notes" to see the numerous times I've debunked this.

Also, economist and historian James K. Galbraith and others have laid out the history of the unemployment rate before, during, and after the Great Depression and the direct impact of New Deal spending and hiring. The fact is that Henry Morgenthau's statement does not reflect the direct lessening of the unemployment rate that occurred due to the New Deal.

Don't forget that military hiring for WWII was government hiring. If they could hire for war, we could hire for a different kind of war: A war on poverty and unemployment and crumbling infrastructure and environmental pollution, etc. Doing that would increase productivity way beyond WWII rates because the produce would return more production rather than death and destruction, which are dead ends and a net-loss economically planetary-wise.

We need direct public employment on a massive scale right now. We've needed it since late 2008 at the latest! It could all be paid for without raising a dime in taxes. It is sheer ignorance and/or false propaganda to state otherwise.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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