Another New Deal?

Lordy, let's hope not. Prof. Boudreaux:

The evidence suggests that F.D.R.'s interventions only deepened and prolonged Americans' economic plight.  In 1939 the unemployment rate remained abysmal, at 17.2 percent - no surprise given the drying up of investment during the 1930s.  As Robert Higgs found, "In the period 1931-35, net investment totaled MINUS $18.3 billion.  After reviving to positive levels in 1936 and 1937, net investment again fell into the negative range in 1938 (-$0.8 billion) before resuming its recovery.  For the eleven-year period from 1930 to 1940, net private investment totaled MINUS $3.1 billion."

-Max Borders