Originally Posted by pman10
One thing I should make clear is that we need to be careful how much and how rapidly we attack inflation. Anti-inflationary measures in a weak economy/recession can easily result in a major depression; this is exactly what the Federal Reserve did after the run on the Banks in 1929, which helped catapult the country into the Great Depression.
What is really scary is that we have no more tools at our disposal to help stimulate the economy. Our debt is so astronomically high and our interest rates so low that there is very little, if anything, at disposal for the government to do.
We have plenty of tools. It is just that the Tea Party Republicans refuse to acknowledge any of them because they are dogmatically opposed to them.
Tell me what tools the gov't used during and after the Great Depression. Hint: Go look at the dedication plaque on your downtown schools and parks, along with nearby bridges and dams.