Complex sentence: At the beginning of the Great Depression many economists traditionally argued against deficit spending, saying that government spending would "crowd out" private investment and spending and thus not have any effect on the economy, a proposition known as the Treasury view.
Split into simpler sentences: At the beginning of the Great Depression many economists traditionally argued against deficit spending. The fear was that government spending would "crowd out" private investment and would thus not have any effect on the economy, a proposition known as the Treasury view.