Did Obama Really Prevent A Second Great Depression?
It has become a common refrain at the White House and among administration supporters that President Obamas aggressive efforts to stimulate growth prevented an economic catastrophe.
“We had to hit the ground running and do everything we could to prevent a second Great Depression,” Obama told supporters last week.
Politically, the claim makes sense. Casting the challenge Obama faced as immense can help explain the economys lackluster performance in the two years since the recession officially ended.
But is it an accurate portrayal of what really happened?