1932 - 23.6%
1934 - 21.7%
1936 - 16.9%
1938 - 19%
1940 - 14.6%
1942 - 4.7%
1944 - 1.2%
"The Day That Will Live In Infamy", when the Japanese attacked Pearl Harbor, was December 7, 1941. That got the country onto a wartime footing and virtually eliminated unemployment (along with many of FDR's economics experiments.) There were already a few signs of a recovery in the making by 12-7-41, but scattered experts are starting to question the wisdom of FDR's big government economic recovery plans.
Two UCLA economists have studied FDR's track record, and decided that FDR's New Deal experiments with the economy prolonged the Great Depression for 7 years.
Here's my favorite quote from the link above: "The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes," Cole said. "Ironically, our work shows that the recovery would have been very rapid had the government not intervened."
Here's a video of the Obamessiah, parachuting in from Chicago to announce his Economic Recovery team. Of particular note is Timothy F. Geithner, president and CEO of the Federal Reserve Bank of New York, who will serve as Secretary of the Treasury.
So, if you read the UCLA wisdom, do you think FDR's 7 years of Bold Experimentation ended the Great Depression? Or do you think it was the events of December 7, 1941?
Please remember....the Japanese are now our allies. We can't count on them to bail us out by bombing us this time.