These are the real economic figures that should be reported but are not by the media. First we are not in nor even close to a depression. We are in a normal business cycle called a recession. In a recession people lose their jobs because of a lack of demand by consumers to purchase certain goods and services. This is a common occurrence in our economy since the forming of our country. This recession has been exaggerated by both the government and the media. The government has forced affordable housing on the financial industry since the Carter administration and was blind to the massive failures of both Fannie Mae and Freddie Mac. Thus people who can't afford homes are in them right now and are part of the toxic debt problem we have. Thus it is furthering the recession.
Our money supply is a fiat money supply meaning that the US dollar is backed by our faith in our government not by any precious metal. Roosevelt decided back in 1933 to stop backing our dollar with gold and turned to this fiat money system. The next result was money that had no longer any real value to it. Did this shorten the depression? Not at all, our production only increased when we entered World War II. Also the decline in the stock market back in the depression was 90%, today it is only 35%, there is much more money and opportunities in our economy today than the 1930's. Thus his programs did virtually nothing to end the great depression and were more politically orientated than economic.
In reality we have a recession as severe as the 81-82 recession, which we came out of not with massive pork governmental spending but with well thought out tax cuts which stimulated our economy for a long period of time. In my economic opinion to use economic fear to your political advantage is ruthless, illogical and misguided. Unfortunately it seems that our new administration loves and thrives on it. Why? Because power and ego are much more important than the good of our country to these people who supposedly represent us.