I’ve pointed out on several occasions that Herbert Hoover was a big-spending Keynesian. Heck, Hoover was pursuing failed Keynesian policies several years before Keynes produced his most well-known book, The General Theory.
Hoover’s big spending was so pronounced that it generated this cartoon in 1932.
Sadly, this cartoon applies just as well today.
Except Bush and Obama take the place of Hoover and Roosevelt – with the same dismal results.
