>We've been doing doing about a million jobs a month better lately than the economy he took over in 2009. As economists know, spending is what pulls an economy out of a recession. You can clearly see when the stimulus worked in the unemployment numbers, but Congress blocked the jobs bill and has forced austerity, which is a drag on the economy.
We are neither spending, nor implementing an austerity approach.
In the 1800's we had a number of recessions (and even a period called "The Great Depression" which we now call "The Long Depression." And yet none of them reduced productivity, increased the income gap, or lasted for years and years like what is done today when we try and "spend" our way out of recessions. So while most economists believe you should spend your way out of a recession, it isn't a universal truth even among economists. What we really do is "Inflate Currancy" out of the recession, which necessarily dilutes the value of our money. Great for banks and Wall Street (since they are the only game in town for trying to beat the inflation rate), but it isn't the best thing for the rest of us.
What we really should do is take our losses on the chin, liquidate the losses, reorganize, and make way for new businesses, new leadership, and provide new opportunities for most of us. Yeah, we will have a tough year. But just like a burnt field, or a forest fire, what is left is fertile ground for new growth. What the Fed does is suppress economic problems until they are absolutely devastating. Maybe all the problems have been suppressed too long. But if forestry has taught us anything, it has taught us you can't prevent forest fires forever. Eventually it will burn.