We're in an economic recession, and some claim we're in the early stages of an economic Depression. Throwing money at the problem will not avert a Depression.
Looking back on the history of the Great Depression, many credit FDR with introducing programs that pulled us from the Depression. Other history buffs claim it was WWII that ended the Great Depression. I'm going to go out on a limb and claim it was a sense positive accomplishment that pulled the nation out of the Depression. I'd like to explain.
A definition of Depression is, “of or pertaining to the life, welfare, and relations of human beings in a community”.
The USA is a community. Our community as a whole is in a state of depression. Depression cannot be treated by doing over and again the very things that caused the depression. The best treatment for depression is accomplishing new higher goals.
In the instance of a community depression, government is not the answer, especially when Congress has a negative 36% approval rating. Government may have a role in stopping the depression, but it needs to be a limited role.
From our history, I would argue it was our victories in WWII that gave the nation the confidence needed to close the Great Depression. Those victories were provided primarily by our fighting forces and our industrial supremacy. I would likewise argue that it was the space programs undertaken during the Eisenhower and Kennedy years, and carried forward, that averted another Depression for many decades.
Now, I'm not suggesting we have another war to pull us from our community Depression. I do believe our nation needs another great challenge though. Of all the great challenges we could set for ourselves, I do believe developing an inexpensive alternative to oil would be the best challenge.
Whatever our country undertakes to raise the confidence of the nation and put the nation and the economy back on track must be positive. Seeing how large we can make the national deficit is not a positive undertaking.
Good post and good insight.