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Obama's New Deal No Better Than Old One

By Michael Barone - October 29, 2008

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With victory in sight, Barack Obama's supporters are predicting that he will give us a new New Deal. To see what that might mean, let's look back on the original New Deal. The purpose of New Deal legislation was not, as commonly thought, to restore economic growth but rather to freeze the economy in place at a time when it seemed locked in a downward spiral. Its central program, the...

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Michael Barone

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