Originally Posted by patteeu
My rebuttal was that we didn't have a recovery this bad the last time we had the 2nd worst downturn in US history, so I don't see any reason why we should expect it this time on that basis alone.
I don't know what downturn you're referring to? What downturn are you referring to?
My post compared the Great Recession to the only real precedent America has seen, which was the Great Depression.
But in reaction to the Great Depression, we had a gigantic influx of federal spending to supplement demand and, as fortune would have it, history's largest land war to stimulate the economy.
The only serious federal spending we've committed to following the Great Recession was four years ago, too tepid, and it was immediately followed by three times that amount in deficit reduction.