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Web Letter

The main difference between Roosevelt's and Obama's 100 days is in their timing relative to the start of a depression. When Roosevelt took office, the Great Depression was already more than three years old. Obama is taking office just a few months after the start of the present, severe downturn, and before it is absolutely evident that a new depression has begun. It is as if Roosevelt had taken office in March 1930 instead of 1932.

Caleb Melamed

Springfield, Il

Jan 20 2009 - 12:47am

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