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A Bold Stimulus
When New York Gov. Franklin Delano Roosevelt delivered a commencement address at Oglethorpe University in May 1932, the economic crisis that had befallen the United States three years earlier had already morphed into the Great Depression: One in four Americans was out of work, banks were failing at a rate of 10 per week and the gross national product was at half its pre-crash level. ...more
December 27, 2008
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