quote:

The term Green New Deal might remind Americans of high-school history class. What was the original New Deal about, again? Most kids are taught that it was a decidedly left-wing project to end the Great Depression, a series of big-spending government programs such as the Public Works Administration, with its schools and stadiums. That impression colors the debate over the Democrats’ important new proposal: Conservatives warn of catastrophic federal debts while liberals insist that top-down investment was and is crucial to managing disaster.

But the high-school narrative is not quite right. It leaves out the parts of the New Deal that encouraged private investment.

At the center of this other New Deal was the Reconstruction Finance Corporation (RFC), an independent agency within the federal government that set up lending systems to channel private capital into publicly desirable investments. It innovated new systems of insurance to guarantee those loans, and delivered profits to businesses in peril during the Depression. Unionists, farmers, and consumers benefited as well, all without the government needing to spend a dime of taxpayer money.

The story about the New Deal we have in our heads—that it was tax-and-spend liberalism at its worst (if you are conservative) or best (if you are liberal)—may obscure policy opportunities today. We can spend taxpayer money to address climate change, and we probably should, but that is not the only option. If we are going to fund a Green New Deal, we need to acknowledge how the original New Deal actually worked.

Read on, Macduff....

https://www.theatlantic.com/id...lts-new-deal/584209/

Who knew that so much stupidity could be crammed into four paragraphs?

All,

The author does not have one clue about his chosen topic. But, he certainly has a story to tell. His story is false.

Please note that the word, "private," in WTG's quote above in the second paragraph is emphasized in the original.

First, The New Deal was/ is The New Deal. This is a fact. It is not an opinion. More to the point, it contained no public/ private bifurcation. The notion is ludicrous.

Second, physican heal thyself. I assume an historian teaching at Cornell knows how to use Google. But, in any case, telling a story and using Google are different skills. I suggest comparing the Google entry for "Reconstruction Finance Corporation" with the author's description of same.

https://en.wikipedia.org/wiki/..._Finance_Corporation

Please note that the author has spray painted the history of The New Deal with neoliberalism. Is he a con artist (sic)? Does it matter? He's a fool.

Third, let me talk about the actual Green New Deal for some perspective. It makes interesting reading. I admit it. It makes good click bait, too, unfortunately.

The actual Green New Deal is not "the Democrats'..." anything, e.g. idea, policy, platform, etc. In fact, a fringe element within the Party, represented by Alexandria Ocasio-Cortez [herself] has proposed it. To make a long story short, Nancy Pelosi accepted a request for the reformulation of a committee to study it, with attendant rules making said committee academic. See: tweet from Alexandria Ocasio-Cortez; date: please check Google.

So, falsehoods about The New Deal are revisionist history. These falsehoods are venal and unnecessary.

Enough! People have been telling the very same lies about the Social Security Act since the day before it was passed by Congress. And, do not get me started about the lies the locals in Dutchess County, New York tell about Roosevelt and The New Deal.

I do not drop names. I have my reasons. Vanderbilt? Whitney? Etc.? Let's not go there. But I grew up from ages 2-14 thirty (30) miles from Hyde Park, New York. I will make an exception for FDR and Eleanor Roosevelt.

My parents bought three acres of land and built their house on what was essentially the 600 acre estate of Franklin D. Roosevelt, Jr. I would like to say that I rode my bicycle to his house but going there without a reason would have been unthinkable. My father worked for him and I met him. Tradesmen walked into his house on unrolled brown paper. Children were meant to be seen and not heard. Did the children of tradesmen walk into his house? Not on your life.

He sold his colonial house and land to a developer. He moved to Millbrook. To say the locals were surprised would be an understatement. I was not surprised at all.

Do you see how I did that? I changed the subject.

I have had more than enough: "The Green New Deal requires revenue" lectures.

But, "The New Deal was part private (emphasis added)" stupidity is a bridge too far, IMO.

Thanks, WTG.

I often find myself at a loss trying to understand how you choose news articles to cut and paste. But, I find your posts challenging, whether intended for me or not. This means a lot to me. I like to be challenged. I prefer it to being bored.

https://en.wikipedia.org/wiki/..._Delano_Roosevelt_Jr.

The house.

This reminds me. I want to and will post a link to my favorite website about Social Security. I think it will be interesting and helpful to many of us. Of course, I will start a new thread.