poisonwood's Diaryland Diary

Date: Aug. 03, 2008 . Time: 7:34 p.m.

the greatest depression Entry:

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the greatest depression

This article isn't about the economy or even the nation at large, but it highlights one of my pet peeves lately - economic alarmism. Everyone wants to say it's the next "Great Depr*ession." So far, it's not even a confirmed rececssion.

Great set of quotes:


�The budget I am presenting today,� Gov. Hugh L. Carey said in a speech in 1976, �demands that every state agency� must �alter those practices that have brought the public sector of this state to its greatest crisis since the Great Depression.�

Fast forward to 1991, when his successor, Mario M. Cuomo, said in a budget address that New York was confronting �fiscal problems more severe than any we have faced since the Great Depression.�

Not to be outdone, his successor, George E. Pataki, said in comments to reporters a decade later, �We are facing the most difficult financial situation in the state since probably before the Great Depression.�

7:34 p.m. - Aug. 03, 2008

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