In response to:

Tim Geithner and the Return of Moon-Yogurt Accounting

and durint the war, so what were the factors that allowed all that out of control spending with our coming out the other end with a booming post-war economy? Was our being on the gold standard for a time during FDR's term a factor, and what role did that play, if so?

Treasury Secretary Tim Geithner has had a rough few days.  Late last week, Sen. Mitch McConnell laughed in his face when he presented President Obama's breathtaking fiscal cliff "deal" -- which raises taxes by $1.6 trillion, abolishes the debt limit (!), spends tens of billions on a new stimulus (!!), and offers no specific or guaranteed spending reductions to speak of.  Then Geithner appeared on Fox News Sunday to defend the proposal, and things went...not so well.  When host Chris Wallace pilloried his claim of illusory "savings" on war spending, Geithner was flummoxed (via