Thursday, February 26, 2009

On Spending the People's Money

Henry Morgenthau & FDR

Henry Morgenthau (center), Secretary of the Treasury 1934-45

"We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong . . . somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. . . . I say after eight years of this Administration we have just as much unemployment as when we started. . . . And an enormous debt to boot." -- Secy. Morgenthau testifying before the House Ways & Means Commitee, May 1939