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Learn from Germany

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At the start of the Great Depression, the government of Germany thought that the best thing it could do would be to balance the budget. So it cut government salaries, unemployment benefits, pensions, social services and public works programs, bringing the budget very close to balance. The result was a 33 percent unemployment rate, leading to staggering amounts of homelessness, hunger and despair. This set the stage for Hitler's rise to power.

To all of those clamoring for our country to balance our budget immediately, that could serve as a lesson in economic history.

Roland Kayser