The article looks at how the US government handled money and spending in the 1930s and how it affected the recent Great Recession. It talks about how monetary policies were studied using complex models and how fiscal policies focused on taxing goods more. Economists don't think the New Deal was a big spending plan. The paper also looks at how federal spending impacted local economies back then. Overall, the article discusses what we can learn from how money and spending were managed in the 1930s.