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When Geithner told those big bank bankers that they had eight hours to save the American economy, he was not kidding. And he was right. Of three types of recessions, worst is one created by economic mismanagement. We know anti-Americans use their rhetoric to justify conclusions. These idiots even tried to put the Social Security fund into stock markets. Because wacko extremists said that is good. That proved it was good.
Only recently have many economic parameters returned to where they were in 2001. For example, the stock market (before a Chinese inspired downturn) finally got back to where it peaked in the third month of George Jr's administration. America only recently reached the point, considered by economists, as full employment (5%).
Of some 220 recessions studied worldwide since WWII, worst types are those created by outright economic mismanagement. We were literally looking at another 1929 crash. But we did not make a mistake that Hoover made in 29. Bernanke stated that quite bluntly. History now proves him correct. We did not use monetary restraints. Instead we did TARP (criticized by wacko extremists who wanted to make Hoover's mistake). TARP, et al averted another 1929 recession.
But jobs are a lagging indicator. It takes longer - long after a recession ends - to restore jobs.
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