W. Todd Akin said "There have been some assumptions made by the Democrats about the economy, and the question is: Are those assumptions any good or not? One of the things that history does tell us is we should learn something from it. Of course, FDR's Treasury Secretary, Henry Morgenthau, after trying it for 8 years, turned a recession into the Great Depression, and we consider it the greatest depression we had. What they did was they just spent tons of Federal money, but at least they spent it on concrete, like great big dams and roads and building projects. Of course, the $800 billion that we spent wasn't spent on a lot of stuff. It was much more of just government giveaways. We are focusing, really, on the economy: What assumptions have been done that are wrong? What do we need to get it fixed so as to straighten things out?" @ PoliticalQuotes.com

On the recordJune 9, 2010

There have been some assumptions made by the Democrats about the economy, and the question is: Are those assumptions any good or not? One of the things that history does tell us is we should learn something from it. Of course, FDR's Treasury Secretary, Henry Morgenthau, after trying it for 8 years, turned a recession into the Great Depression, and we consider it the greatest depression we had. What they did was they just spent tons of Federal money, but at least they spent it on concrete, like great big dams and roads and building projects. Of course, the $800 billion that we spent wasn't spent on a lot of stuff. It was much more of just government giveaways. We are focusing, really, on the economy: What assumptions have been done that are wrong? What do we need to get it fixed so as to straighten things out?

Said by

W. Todd Akin

Missouri

Source

govinfo.gov

Editor's note · Context

The speaker discusses economic assumptions made by Democrats and historical lessons from past government spending.

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