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Obama Compares America's Current Economy To The 'Great Depression'

| Filed under: PolitikBarack ObamaSad SadBusiness Blitz

obama compares american economy to the great depression

Sad…but true.

Today, President Barack Obama gave a speech in which he laid out some cold, hard truths about America's economy.

He went so far as to say that economic inequality is at "a level we haven't seen since the Great Depression."

As the speech went on, Obama made it clear that he believes the country can get out of this situation:

"I'm here to reaffirm my deep conviction that we are greater together than we are on our own."

"I believe that this country succeeds when everyone gets a fair shot, when everyone does their fair share, and when everyone plays by the same rules. Those aren't Democratic or Republican values; 1% values or 99% values. They're American values, and we have to reclaim them."

Do U agree with Obama? Will America get out of its current Great Depression-like economy?

[Image via WENN.]

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56 comments to “Obama Compares America's Current Economy To The 'Great Depression'”

  1. 1

    DUH! The county has been in the shitter since 2009. Bank and Wall St bailouts. Auto industry bailout. Stimulus 1 & 2 failures. Endless foreclosure and mortgages under water. Home values in the shitter. But what is really going to kill the economy will be health care reform. Think things are bad now just wait until 2014 when health care reform kicks in and then things will be nothing short of a complete collapse of the US economy.

  2. 2

    You fucking motherfucker, Barry! Of fucking course, the God-damn economy is as bad as it was during the Great Depresssion! Real unemployment is at 15% and in big cities, it's closer to 20%. Hell, for blacks it's at 25%. Barry, you haven't done a fucking thing to help the economy and create jobs. The only thing you actually put effort into was getting your unconstitutional and economy crippling healthcare bill passed. Why don't you skip the fundraisers, the fiestas at the White House, your fabulous vacations with your fat wife and your fucking rounds of golf and get the economy moving again?
    PS I can't believe you got the balls to lecture Americans about American values. I hate you so much.

  3. 3


  4. 4

    Re: Truth_Is_A-Virus – He cannot let you down if you never expect anything from him in the first place . . . . I always knew that he was a gimmick.

  5. bbcb says – reply to this


    Re: Eldridge Cleaver – Hey shit stick It was your man Bush and his daddy who fucked up your country. They were in bed with Osama and co. they had to get them oil rights you fucking ignorant tool.

  6. bbcb says – reply to this


    Re: Eldridge Cleaver – who fucking paid for the Bin Ladens.
    Your man Bush and co. grow the fuck up and learn something, You fucking uneducated tool.

  7. bbcb says – reply to this


    Re: Eldridge Cleaver – You are a fucking uneducated piece of shit.
    Who the fuck do you think you are. You disgusting red neck hilbilly.keep living in the 50s idealogy.you cum crumpet.

  8. bbcb says – reply to this


    Re: Death2Gaga – Go fuck yourself.

  9. 9

    Re: bbcb – 3 fucking years in and you pathetic liberals are still blaming Bush, huh? Wow! Barry himself said the buck stopped with him. Why don't you pull your head outta your ass and stop listening to your high priestess Keith Olbermann and your high priest Rachel Maddow? Oh, wait…you're a fucking liberal. Admit it: Barry Obama hasn't done a fucking thing to fix the economy. Why should he? He hates America. Enjoy 2012 when dipshit Obama is kicked the fuck back to dirty Chicago.

  10. bbcb says – reply to this


    Re: penny1206 – Are you fucking serious.REALLY> Whilst most people live in a civilised society. you Americans cannot grasp the concept of free health care. What the fuck is wrong with you people? Are you afraid that it might actually work.
    I am so glad that I do not live in your medievel society. get with the program America.
    No wonder the rest of the world looks upon your country as a joke.

  11. bbcb says – reply to this


    Re: Eldridge Cleaver – Hey here is a news flash, I thank fuck do not even live in your fucked excuse for a country. Just goes to show you that the rest of the world thinks that America is fucked.

  12. 12

    Re: bbcb – You proceed to tell me to go fuck myself, accuse the Cleaver of being uneducated, basically berate anything within a keyboard's toss, and yet you're the one flipping the fuck out, defending a President that isn't even your own? Now, stop me if I'm wrong, but, please, shut the fuck up? Obama is the president and he is MY president. He is the leader of MY country. Therefore, as I see it, at least, the problems of MY economy can be attributed to the man who's currently in office. He's been there for nearly an entire term. So, as if you had any merit to begin with, it'd be nice if you stopped allaying the blame to everyone BUT the present Commander in Chief. I agree with Cleaver vis-à-vis his Liberal declarations. (I am neither Left or Right, by the way) Stop following. Think for yourself. Stop blindly justifying some one or some thing just because the media (etc.) tells you to. The sooner you start creating your OWN mental process and forming your OWN creative and moral opinions is the day that you may just find happiness. Also, calm the fuck down. Thanks.

  13. bbcb says – reply to this


    Re: Death2Gaga – thanking you most kindly for your response. I am quite capable of NOT Following anyone thank you very much.I do not follow the media for my own agenda and can think for myself.I do create my own mental process and do have my own moral compass to follow. So FUCK YOU AND EVERYTHING THAT YOU REPRESENT>
    If that is not clear I repeat FUCK YOU AND EVERYTHING THAT YOU REPRESENT>
    BTW FUCK AMERICA> What an awful place to grow up in.i feel sorry for anyone that grows up in your country. it must be awful You poor sad people.

  14. 14

    Apparently people need a history lesson. In 1933 60% of American families were ranked 'poor' by the government, the current poverty level is around 15%. The current average unemployment today is less than 9%, during the peak of the Great Depression it was 25%, and that's only the AVERAGE, which means it hit 30-40% or even higher in some areas. This recession has lasted around 4 years, the Great Depression lasted at least 15 years in the US, and much longer in some countries. I'm not saying that what we're going through today isn't difficult, but it's just foolish to think it compares to the Great Depression in terms of negative effects.

  15. 15

    Re: bbcb – Cool. Right on. I'm, uhh, going to go back and revel in my sanity, so I'll just let you further douse yourself with the crazy sauce. Adios muchacho.

  16. @v@ says – reply to this


    Re: supersoup – You sure about that 9% unemployment rate? When an unemployed person's benefits run out, they're no longer included in the numbers and somehow become invisible. The rate is likely higher.

  17. bbcb says – reply to this


    Re: Death2Gaga – Indeed ! What exactly would the brand of crazy sauce that you are promoting. Viva La Spania

  18. bbcb says – reply to this


    Re: Death2Gaga – Viva la Spania

  19. bbcb says – reply to this


    Re: Death2Gaga – once again go fuck yourself and anyone that is remotely associated to you.

  20. 20

    Sorry but citizens don't have money because companies and the government take it all, while their jobs barely pay them enough to make a living, then companies still expect us to buy their stupid bullshit such cars. Is it any wonder why the economy is the way it is? MAKE SURE THE MONEY REACHES THOSE WHO WORK FOR IT. BUSINESSES DEPEND ON US. STOP BEING GREEDY BASTARDS AND DO YOUR JOB.

  21. 21

    The F*** if we are in times similar to the great depression. Last year black friday grossed $10 BILLION dollars and this year a record breaking $11.4 BILLION dollars. If our country was in something similar to the great depression there is NO WAY ANYBODY would be spending that kind of money. Do some research those people had nothing and no money to spend on anything. This country has tons of money (obviously) to be spending BILLIONS on tvs computers game consoles etc. This is nothing like the great depression.

  22. bbcb says – reply to this


    Re: Death2Gaga – Get a fucking life you tool.
    Post me back when you have something resembling an articulate response
    Fuck you arsehole

  23. 23

    Re: bbcb – Spania? As in the Byzantine Empire province? Remarkable! It nearly explains everything! You're speaking to me through a rip in the space/time continuum, from the sixth century! Wait… No. That can't be. Did you mean Spain or Espana? I've travelled all across that beautiful country. I guess I never had the utter misfortune of running into any jackasses such as yourself. I did, however, stumble into a medievally ornate brothel run by toothless madame that doubled as a transvestite for confused and anxiety ridden amputees. I can recall stumbling into said establishment, piss drunk, blacked out to oblivion, and pissing on one of her damaged whores. What was her name? Hmm. Started with a B, I think. Oh! That's it! I'm told that she called herself Bonita Bicha Con Bolas… Yes. Wait? BBCB? It's you?! Oh my god! I'm so sorry! I'm sorry for urinating on your crusty vagina and chapped, herpetic lips. That's why you're so angry! I'm sorry. It gets better. It really does get better!

  24. bbcb says – reply to this


    [re=5954722]Re: Death2Gaga[/Get a fucking grip.

  25. 25

    Too much,my boy!

  26. 26

    Re: bbcb – "Get a life" - "Post me back"
    Aren't these conflicting statements?
    And, if by "articulate" you mean, anything that resembles:
    Hey shit stick
    You are a fucking uneducated piece of shit
    Go fuck yourself
    Cum crumpet
    I thank fuck do not even live in your fucked excuse for a country. Just goes to show you that the rest of the world thinks that America is fucked
    Once again go fuck yourself
    Articulate? Ok. I'll give it a shot. Go fuck yourself, Mexican. That's all I got. Sorry.

  27. bbcb says – reply to this


    Re: Death2GagaRe: Death2Gaga – You should have been born ,when the inqiisitions were taking place. I would have you first on the pile.

  28. 28

    Re: bbcb – Ha! Well… I win. Thanks for the show, ol' chap.

  29. bbcb says – reply to this


    Re: Death2Gaga – Are you really that immature/

  30. bbcb says – reply to this


    [re=5954775]Re: Death2Gaga[/Mexican Really!!!!!!!!!!!!!!

  31. bbcb says – reply to this


    Re: Death2Gaga – Good Grief ,you cannot be serious.

  32. 32

    Re: bbcb – Refer to comment 26 for a collection of your greatest hits… Immature, me? Hey now! Wait a second… Kettle? Black? I'd say it's ironic, but I'm not sure you'd understand… You're actually quite astoundingly stupid. I'm honestly impressed. Also, proper punctuation… learn how to use it. Please, I beg of you.

  33. bbcb says – reply to this


    Re: Death2Gaga – That is beyond hilarious. (MEXICAN) are you fucking seriiousWhat an insult to the Mexican community To all the Mexican community out there All power to you my friends. Peace and love as always

  34. 34

    Re: bbcb – "Peace and love as always"? Geez, you really do NOT understand IRONY do you? Again, please refer to comment 26 . . . Anyhow, as Martha Stewart once said, "you can't argue with stupid." Arrivederci, ma'am. Peace and love, as per usual.

  35. bbcb says – reply to this


    Re: Death2Gaga – [re=5954781]Re: Death2Gaga[/recannot be serious.

    Ok old boy, shall we partake in some friendly banter?

  36. bbcb says – reply to this


    Re: Death2Gaga – good fucking christ You are quoting Martha Stewart?

  37. 37

    Re: bbcb – Yup. Martha Stewart and ANY other mortal being with half a brain. It's kind of a popular saying, bud. Ugh. You're too frustrating. You're an idiot. Hasta la vista, baby.

  38. bbcb says – reply to this


    Re: Death2Gaga – And your educated point is what?

  39. bbcb says – reply to this


    Stupid is as stupid does

  40. 40

    Re: bbcb – Your retort just proved my point. There's absolutely no sense in arguing with stupid folk such as yourself.

  41. bbcb says – reply to this


    Re: Death2Gaga – Seriosly .Get the Fuck out of here. You are just to much hard work, So you can get the fuck out of here bud.

  42. bbcb says – reply to this


    Re: Death2Gaga – No seriously there is no point in even conversing with someone of your ilk.

  43. 43

    The comments on this post are proof enough that people are more hellbent on blame and being disrespectful to each other than working together…just like Obama said above. I don't think any one person can really be blamed, it was a series of events that lead to the demise of the economy.

  44. 44

    Re: Eldridge Cleaver – 3 years is NOT a long time. It takes A LOT longer to rebuild a country (with NO MONEY) than it takes to destroy it, which Bush did.

  45. 45

    Re: supersoup – Taking in account that the poverty line in America is $21,756 for a family of 4 (which is nearly impossible to live on), I think the level of poverty represented in those statistics are unreliable.

  46. jik says – reply to this


    my roomate's aunt makes $83/hr on the laptop. She has been without work for 8 months but last month her pay was $8682 just working on the laptop for a few hours. Read more on this site…Nuttyrich . com

  47. 47

    Re: bbcb – I cannot say this is fact, but from what I've heard in regards to free health insurance: it's great, BUT it takes much longer to get the care you need. Someone like me with complex partial seizures cannot afford to wait for surgery.

  48. 48

    Re: Nellygrl – Yes, there is debate as to whether the poverty line in America is a fair representation of actual poverty, but you can't tell me that anywhere near 60% percent of people or even half that live in poverty today. There are no bread lines and no Hoovervilles today for a reason. Also, consider that all of the unemployment benefits we have today were implemented AFTER the Great Depression. If you were out of work and saw your savings disappear in stocks then that was it. You stood in a bread line and hoped you could get enough to feed your kids, you were probably going to have to go hungry that day. The vast majority of Americans today luckily don't have to deal with anything like that.
    Re: @v@ – How exactly would what you said affect the official unemployment rate? The unemployment rate is determined by an official survey which has nothing to do with whether someone has unemployment benefits or not. And, yes, the Bureau of Labor and Statistics lists the current unemployment rate at 8.6%, nowhere near what America experienced during the worst of the Great Depression.

  49. 49

    Re: Eldridge Cleaver – you dumbass we can't stop talking about bush because he is the one to blame… if you'd get your head out of your ass…Clinton left office and the books were balanced…bush came in and put everything on a credit card

  50. 50

    Re: FLCutie1981
    Not exacty true. In France you have few problems. In Canada, it depends on the province. But anything is better than not being able to afford health care, something Americans don't seem to understand.

  51. 51

    When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half get the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation..

  52. @v@ says – reply to this


    Re: FLCutie1981 – No, it doesn't. Emergency health needs that are immediately threatening are tended to right away. Problems are triaged, meaning qued in order of timely need. A non urgent hip replacement for a marginally functional person might wait a few months, but they will get it and it won't break their bank. Health care isn't 'free', either. Some provinces have a monthly fee of around $88.00 per family, and some provinces don't charge the fee, and the expenses are covered by normal income tax. The healthy employed who aren't utilizing the care help cover the cost of those who are at that time, similar to a cooperative. (I'm up working in Canada right now.)

  53. @v@ says – reply to this


    Re: supersoup – I hope you're right.

  54. 54

    Re: cali1086 – Are you the guy out there on wallstreet? Listen meat head, look in the mirror and smack yourself! Did he max out your credit card or anybody else you know? Take some blame for yourself. Did he tell you to go buy a house over your budget and get a pretty new car to put out in the driveway?? Did he tell you to take a second morgage to go buy new toys? Wake up snapper head!!!

  55. 55

    Re: curiousred – Thanks! You're right, I didn't understand the truth in regards to separate countries.

  56. 56

    I have no confidance in President Obama. I thought the troops wrere going to be home by the end of 2011? You campaigned to cut government spending and the debt is at record high. I'm tired of your predictible adolescent anti social bs.