Is this country headed toward another depression?

[NDN]

Obama raising taxes in the middle of this al la FDR is a good way to cause one. We know he's rooting for it right now.

Most people would get a tax cut, at least if they still have jobs after the Bush economy.

Okay. Let's raise taxes on the wealthy, capital gains, payroll, and social security and see how the economy responds. I bet it would turn around!

I highly doubt Obama is going to attempt to do all of that at once. That said the immense costs of what he seems to be advocating make me extremely nervous. We have enough unfunded liabilities as it stands without him promising to use government to practically part the seas.

[NDN]

JFern, your signature line proves FDR's failures in improving the economy - despite the fact that there was a 9% rise in unemployment under Hoover, in all his years as President, FDR was only able to grow the economy enough to bring back half the jobs. So despite the fact he's at the top of your list, he was probably the least successful in improving the unemployment rate of all the presidents on there.

And you think the Free Market alone would bring back all of those jobs?

No, but increasing taxes, regulations, AND backing strikes during a depression was one of the stupidest possible things anyone could have done. In fairness though it would have lasted longer than most prior crashes anyway thanks to Hoover's protectionism and tax hikes too.