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> They didn’t sit there and wait for the government to bail them out. The government in the 30s took on trillions (in modern dollars) in debt to do just that;
by eganist 7y ago
> They didn’t sit there and wait for the government to bail them out.
The government in the 30s took on trillions (in modern dollars) in debt to do just that; the only difference being they put people to work by pouring money into infrastructure projects because people could actually work without isolation.
The difference here is that the money isn't going into infrastructure, it's going into basic necessities and healthcare; people are still being put to work as you can tell from the ramp-up in hiring for delivery, cargo, logistics, etc. The velocity of money hasn't stopped - if anything, it's actually increased in certain areas of spending. The problem here is unique for almost everyone alive today: entire quadrants of the economy have ground to a halt because of an external stressor.
TL;DR: your understanding of the new deal needs work.