Ke Alakai o Hawaii, Volume IX, Number 27, 15 October 1936 — The Difference Between Doctor And Undertaker [ARTICLE]

The Difference Between Doctor And Undertaker

The Ineome of the Federal emment is climbing becaase the a " couatry is registerlng recovery in tmprecedented degree. The country is recoveriug . Roosevelt" had the dorurage *to_ , spend when spending \vas neces- ' sary, knowing ffiat such stlmufa- v¥ it!on would brlng the budget to I balance. j Hoover went along for tragic jtwo years. with successive threebillion dollar deficits, defic|t§ produced bv declin!hg rēvenues, not by recovery spending, Hoover borrowed to meet those panie de- ~ ficits. Roosevelt deliberately created deficits to deliber%tely spend for recovery. His defieits werc planncd deficits. p'art of a !ong-range program and he borrowed, as did Hoover, to meet them. Exeepl he is p»ying a lar lower mterest rate. Sp the difference is that Hoover borrowed to pay the undertaker. Roosevelt borrowed to pay the doctor.