Allstocks.com's Bulletin Board: Some interesting Great Depression Facts

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Posted by glassman on :

During the 1920s, there were, on average, about 553,000 paid civilian employees of the federal government. By 1939 there were 953,891 paid civilian employees, and there were 1,042,420 in 1940. In 1928 and 1929, federal receipts on the administrative budget (the administrative budget excludes any amounts received for or spent from trust funds and any amounts borrowed or used to pay down the debt) averaged 3.80 percent of GNP while expenditures averaged 3.04 percent of GNP. In 1939, federal receipts were 5.50 percent of GNP, while federal expenditures had tripled to 9.77 percent of GNP. These figures provide an indication of the vast expansion of the federal government’s role during the depressed 1930s.

http://www.econlib.org/library/Enc/GreatDepression.html

keep in mind that GNP does not equal GDP. the growth in the US Govt was dramatic. what's really interesting tho is that the US was not a world power in ANY sense of the word prior to WW2, much less THE world power.

so, in essence, the depression led US to our greatness. do not assume that another one will lead to greaterness [Roll Eyes]