[PBzeer]

sck - you really ought to do some research:

Hoover and others such as Henry Ford believed that the preservation of purchasing power was critical. The participants pledged to maintain employment and wages; Ford actually raised the wages of his automobile workers despite declining sales and profits. In January Hoover instituted a vigorous public works program which authorized $60 million to begin construction of the Hoover Dam, $75 million for road construction, and $500 million for public buildings.

The deepening farm crisis merited more direct intervention. In February Hoover established the Grain Stabilization Corporation which began federal wheat purchases in March. By June it had purchased 65 million bushels for $90 million. Never before had the federal government intervened so directly in the private sector.

The scale of federal action in Hoover’s response to the stock market crash was unprecedented in U. S. history. This prompted historian Robert Sobel’s assertion that “no peacetime president since Jefferson had done more to expand the powers of the presidency than Hoover had in that one year.” It drew attacks by those who felt it gave the government too large of a role. Ultimately these efforts did not prevent the country from sliding into the Great Depression, although they represent a significant departure from the laissez faire attitudes of previous presidents and in many ways laid the groundwork for Franklin Roosevelt’s New Deal policies. Full article here: The Presidential Timeline of the Twentieth Century


Reality has a way of upsetting the most fervent delusions. Hardly sounds like budget balancing to me. Sounds a lot more like what we're getting now, and the promise of more of from Obama. Despite the outcome from before.