Gerald Bailey said:Getting paid to do absolutely nothing? That’s basically just life these days, isn't it? 🙂
Honestly, Franklin D. Roosevelt was a total genius, 👍
The GDP per capita back then actually outpaced what we’re seeing today.
The national debt for the US was only about 3.5 billion dollars; if you break it down, every single citizen owed roughly 500 bucks—which would be closer to 6,800 in today's money—and most of that buildup happened right after FDR passed away.
And get this: they didn't sell off a single inch of land to foreigners, nor did they hawk off even the smallest slice of our companies.
But the crowd that came after? They practically liquidated everything, selling off real estate and corporations left and right, while dumping two and a half times the size of the CIA into foreign banks.
Where did all that cash actually go, anyway?
Meanwhile, look at Mexico:
Official data shows that Mexico's external debt jumped by 3.9 percent in November compared to the same period last year, hitting 10.4 billion euros. Since the start of 2005, their total debt level has stayed pretty much flat, increasing by a measly 0.05 percent.
Even Mexico seems to have politicians who actually know what they're doing.
If they had taken out loans the way we have, and sold off as much of our national wealth as we did, their standard of living would be two and a half times higher than ours right now.