Keynesian economic theory fdr biography

FDR found these arguments compelling in the wake of the Recession. In his Annual Message to Congress on January 3, , President Roosevelt declared his intention to seek funding for massive government spending without tax increases, and he challenged fiscal conservatives who offered no compelling alternatives during that time of national economic crisis:

We have heard much about a balanced budget, and it is interesting to note that many of those who have pleaded for a balanced budget as the sole need now come to me to plead for additional government expenditures at the expense of unbalancing the budget.

As the Congress is fully aware, the annual deficit, large for several years, has been declining the last fiscal year and this. The proposed budget for , which I shall shortly send to the Congress, will exhibit a further decrease in the deficit, though not a balance between income and outgo.

To many who have pleaded with me for an immediate b