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Yes, FDR was a Deficit Terrorist in the 1928 campaign and ran against Hoover's deficits and new spending.
With the bleeding out continuing on his watch as President, and much of the country on the verge of revolution, he would reverse himself.
FDR would subsequently close the domestic gold window and institute the FDIC.
In short, FDR created the modern monetary system.
Then in 1937, the Deficit Terrorist came back out, probably for political reasons, and they stepped on the fiscal breaks leading to the double-dip.
The problem then as now is some folks want to apply gold-standard thinking to a fiat currency system. That's like trying to program a DVD player with a VCR manual.
The politics about government deficits hasn't changed much in 80 years. Both parties and most people are very confused about how the currency works. The result is a complete economic and political disaster.