In 1939 Henry Morgenthau Jnr., FDR's Sec of Treasury said, "we have tried spending money...and it did not work. After 8 years...we have just as much unemployment as when we started and an enormous debt to boot".

If running huge deficits was enough then the US economy would never have hit skid row, given the size of the deficits Bush ran up.

Economic recovery means business recovery not expanded government.

Given the blowout in debt levels that preceded the bust, is incurring more debt on our behalf the way to go?

Graham, is this a first? zero responses?

Debate on our governments response to economic problems was successfully sidetracked by the Turnbull/Costello sideshow both in parliament and the media and so it goes here. I might have thought a quote from the man who instituted the Keynsian based New Deal admitting failure might have sparked some interest.

Is there a prize?