HispanicPundit + history + fiscal   2

Hoover Was No Budget-Cutter - Megan McArdle - Business - The Atlantic
Hoover did not tighten up on spending.  According to the historical tables of the Office of Management and Budget, spending in 1929 was $3.1 billion, up from $2.9 billion the year before.  In 1930 it was $3.3 billion.  In 1931, Hoover raised spending to $3.6 billion.  And in 1932, he opened the taps to $4.7 billion, where it basically stayed into 1933 (most of which was a Hoover budget).  As a percentage of GDP, spending rose from 3.4% in 1930 to 8% in 1933--an increase larger than the increase under FDR, though of course thankfully under FDR, the denominator (GDP) had stopped shrinking.
hoover  fdr  history  fiscal  deficits  presidency  mcardle  sidebar 
july 2011 by HispanicPundit
Government makes things better (sometimes) | Free exchange | Economist.com
"The authors estimate the length and severity of recessions in two periods: from 1875 to 1918 and from 1920 to 2007. In the earlier period, real output declines by 7.8% on average during recessions. The average recession has a duration of 6 quarters, and the average expansion lasts 8.3 quarters. During the period from 1920 to 2007, the average decline in real output during recession is estimated to be 5.9%. Recessions last 4.5 quarters on average, while expansions last 17.7 quarters. Downturns before the establishment of a lender of last resort are longer, deeper, and more frequent than they are after."
fdr  financialcrisis  monetary  fiscal  history  economist  sidebar 
september 2009 by HispanicPundit

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