as it is on the button:
http://www.huffingtonpost.com/robert-kuttner/the-great-deflation_b_1078965.html
Some stats from the article -
US economy has GDP of $14 trillion. Obama's Recovery Act from February 2009 spent $775 billion over three years. But during the same three years, state and local governments cut about $460 billion. So net, that's a $315bn government stimulus.
Household income has declined by 10 percent since 2007. In Q3,11 consumer income was down 1.7 percent (annualised rate).
By late 1933 strong economic growth had resumed. The economy expanded by 11 percent in 1934, 9 percent in 1935, and 14 percent in 1936.
In the Great Depression the wartime deficits were nearly 30 percent of GDP in the last year of the war. But after the war, high growth paid down the debt, which was nearly twice the level of the current debt relative to GDP.
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