HISTORICAL NOTES: The Spenders

In the second year of the New Deal, Secretary of the Treasury Henry Morgenthau Jr. took a protegé named Danny Bell up to Hyde Park to meet the Roosevelts. Danny had just been appointed Acting Director of the Budget. Henry the Morgue introduced him to Mrs. James Roosevelt, the President's mother.

"Oh, Mr. Bell, I'm so glad to meet you," cried Mrs. Roosevelt. "So many of my friends ask me when Franklin is going to balance the budget. My dear Mr. Bell, when is Franklin going to balance the budget?"

Neither Danny Bell nor...

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