I would strongly recommend a reading of The Forgotten Man (2007). It lays out the 1920s, and how things fell apart, and how the prolonged depression just kept going. Excellent reading and worth the effort.
Damned effective, too. What Obama is up to (stand by for blinding glimpse of painfully obvious) is building a re-election case based upon the "need" for more spending to "keep the recovery going." Cleverly offering that $250 a week forever to the 20% of the work force who remain unemployed is the key. The "Infrastructure jobs," with its retro-emotion of the WPA is also a wonderful ploy. (This also reinforces the latino vote, because every, i.e. EVERY infrastructure job I have seen is staffed by Mexicans!)
The recession of '37-39 gradually ended, not because of any government action, but because the British Empire was at war and transferred a major portion of its very considerable wealth to the US in payment for war materiél. Employment picked up and finally took off when the Japs and Hitler declared war in 1941.
Team Obama might be out looking for a war right now. The difference is that even with Roosevelt and his marxist-dominated administrations, the government was nowhere near the the vast economic sinkhole it is nowadays. That means we would risk collapse supporting the government and a war.
The government(s) is simply consuming too much of the country's wealth. IMHO, about 25% too much. How the hell do you end that?