When A Turn Toward Austerity Turned To Disaster

In the depths of the Great Depression, FDR's New Deal cut unemployment dramatically. But by the start of his second term, when things were starting to look up, he switched gears to promote austerity. Unemployment soared. Former Treasury Secretary Larry Summers says rushing to cut spending was a mistake then ? and could be again today.

Monet Mazur Monica Bellucci Monica Keena