Mr. Powell talked about his book, FDR’s Folly: How Roosevelt and His New Deal Prolonged the Great Depression, published by Crown Forum. In the book, the author criticizes what he refers to as “big government,” and works to refute the popular view that President Franklin D. Roosevelt’s New Deal policies pulled America out of the Great Depression. Among Mr. Powell’s specific allegations and criticisms: federal taxes tripled; investment was discouraged; hiring was discouraged; federal securities became more difficult to obtain; food was destroyed while people went hungry; prices for all goods and services increased; banking regulations led to bank failures; and public work projects dragged the economy down. He argued further that the depression could have been over by October of 1934 if not for Roosevelt’s interference. Following Mr. Powell’s remarks, Mr. Barone gave his own opinions about President Roosevelt and The New Deal. Mr. Powell and Mr. Barone then responded to questions from the audience.