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Did New Deal Spending End the Great Depression?

John Maynard Keynes was not happy with US President Franklin Delano Roosevelt. In 1934, the famed economist criticized FDR for being “engaged on a double task, Recovery and Reform” when Keynes believed reform should wait until recovery was achieved. In fact, Keynes argued that Roosevelt needed to embark on much more deficit spending, and he lamented that the president was too wedded to his belief in balanced budgets. In contrast to many libertar…
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thedailyeconomy.org broke the news on Thursday, June 11, 2026.
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