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I don't think we are near a depression. But times are very tough.
I do like what Obama is talking about though. A massive public works project, which should of been started 8 months ago instead of those shitty refund checks. If Bush did that we would be seeing the benefits about now. But better late than never. A push towards environmental jobs other new technologies will also help spur the economy.
After WW2 our national debt was 120% of GDP, currently it is around 40% so we can handle the debt. We bump our debt up to around 60% of GDP with a massive economic stimulus and we not only avoid a depression, we start growing again in late 2009.
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