John Kerry Wants Another Economy-Crippling New Deal

Those who cannot learn from history are doomed to repeat it… And if John Kerry has his way this country would have another FDR-style New Deal.

The nation’s battered economy needs an old-fashioned “Rooseveltian lift” of regulatory reforms and government spending on the infrastructure, clean energy and other sectors, U.S. Sen. John Kerry said yesterday.

Kerry, facing a re-election challenge from Republican Jeff Beatty, rejected GOP calls for more tax rebates to stimulate the economy, as was done last spring.

“I am for a stimulus package. I am not for a stimulus package that just sends out checks,” said Kerry at a Boston Herald editorial meeting yesterday.

Instead, Kerry said the nation needs to spend more in areas that will both help the economy in the short run and long run – such as on roads and bridges, clean energy initiatives and life sciences.

Calling current financial woes the most “complicated economic time we’ve had since the Great Depression,” Kerry said new approaches are needed to reform the current financial system.

Obviously, John Kerry doesn’t know a thing about history or economics. If he did he would know that FDRs New Deal (which included tax increases, bank consolidations, higher tariffs and forced unionization amongst other things) prolonged The Great Depression rather than got the country out of it.

If that is something Kerry wants to happen again, then how could anyone possibly vote for him?

Matt Margolis is co-author (with Mark Noonan) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at The Buffalo Bean. Follow Matt on Twitter.