They seem to genuinely believe that America has never had it so good, despite the clear evidence of record debt, the doubling of food stamp use, institutionalized unemployment, a failing educational system, an every growing bureaucracy, and that's just the domestic problems.
It is very difficult to debate someone's beliefs.
You seem to imply that the $6 million plus added to the debt was through spending, as I explained yesterday a good chunk (I don't know how much) was due to the loss of FIT and payroll taxes because job losses the Bush recession caused.
The loss of FIT is due to the inability of Obama to implement an economic plan to provide incentive to the private sector to grow. Obama said he had the answers to the problems that he helped create by being in the Congress. Seems people like you always claim that Bush is responsible for all the problems we have but Obama has no blame in the economic results we have today. Your expectations are always too low which is why you are a liberal.
"It's always reassuring to find you've made the right enemies." -- William J. Donovan
A depression generally needs the following (though the definition varies):
'a decline in real GDP exceeding 10%, or
a recession lasting 2 or more years.'
Depression (economics) - Wikipedia, the free encyclopedia
Neither was remotely true in this case.
And as for the banking system chaos?
Way overrated IMO.
Sure, lots of banks messed up and got themselves in trouble. But roughly HALF of all banks failed during the Great Depression. 1/2! This time? Half a dozen maybe...I am not sure, but hardly any.
The banks spread most of the hype and panic about the banking system to scare the public into getting the governments to bail them out.
And the moronic media and gullible public fell for it and the banks got trillions from taxpayers - worked like a charm.
Sure, the banking sector was in chaos. And if they had been left alone, several would fail, others would take their place and the problems would be resolved.
Fear is a bad thing for macroeconomics.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."