In 1932 Franklin Roosevelt was elected promising a 25% reduction in the federal budget, an end to deficits, and the restoration of a sound dollar.
Within eight years the federal budget tripled, federal debt increased 155%, and the gold standard was repudiated making the U.S. dollar a fiat currency.
Roosevelt’s New Deal transformed America from a unique country in which everyone could live his life as he saw fit into a welfare state in which most business was supervised from Washington.
No longer was America run by the people or even by Congress. Instead it was now directed by bureaucrats operating in regulatory agencies like the AAA, FCA, CCC, FCI, SMA, FSA, NLRB, PWA, WPA, FDIC, FSLIC, SEC, SSA, REA, EHFA directing when we shall sow and when we shall reap.
EFFECTING A REVOLUTION
Why would Americans give up their freedom for a system that had never worked well in the Old World?
They did it because Roosevelt never attacked the American Way head-on. Instead . . .