Under FDR, Unemployment reached around 26%.
Under the old way of measuring unemployment I believe our unemployment would be around 20% in some areas, and at least 15% nationally if we counted all the unemployed. (Clinton moved the boundary stone)
We are not slipping into recession but are slipping into depression.
http://en.wikipedia.org/wiki/Franklin_D._Roosevelt#First_New_Deal.2C_1933.E2.
Friday, December 5, 2008
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