Reply #16: To all intents and purposes...

[hayu_lol]

this is a depression, not a recession. All that saved us this time are the programs that FDR put in place and that have been improved upon over the years.

During the depression, there wasn't any NEW money going into every city and hamlet in the country...a cash shortage if you prefer. The programs such as SS, disability, unemployment, food stamps(also helps farmers by the way), WIC and the like are the constant infusions of new cash nationally. People on these programs use every penny just to get by.

Banks and investment bankers got a bailout. They took the money, in many cases continued their failed programs of high-living parties, huge raises, huge bonuses, and used the rest to buy up what competition remained.

None of that 'trickles down' to Mom, Dad, or Junior.

Without those programs, this depression would have been worse than than the one FDR brought us out of.

So please, don't attempt to compare FDR with Obama.