This cartoon from the 1934 Chicago Tribune has appeared more than once in our inbox. Hopefully, unlike 1934, we have already endured the worst of new federal government central planning in the U.S. economy. By 1934 the Depression had already lasted five years, but would still go on for another eight. In that time the left would go on to establish such monstrosities as the Works Progress Administration, the Fair Labor Standards, the Wagner Act, the Tennesse Valley Authority, and Fannie Mae.
In 1939 President Franklin D. Roosevelt’s Treasury Secretary Henry Morgenthau Jr. would admitto less influential Democrats on 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. … I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot.
In just the last few months, the last two administrations have managed to spend more than $3 trillion of your dollars. This video helps put those numbers in context: