Economic contraction ended by 1933, and had already started to dramatically reduce the downfall in 1932 (the year of the election, before FDR took office). By 1935 economic output had reached the level of 1929 again.
There was a second, smaller recession in '37/38 when government spending was contracted to quickly in an effort to eliminate budget deficits.
One of the major economic impacts of WWII on the U.S. was a period of nearly forced savings -- not many consumer goods to buy, gas ration stamps, sugar stamps, rubber rationing, etc combined with war bond drives. The combination of savings and demand for goods from having forgone broad consumer spending for so long is what in turn fueld the economic expansion of the 50s and 60s.
We're now experiencing the hangover from a period of prolonged government policies that encouraged easy credit instead of frugal savings to achieve goals.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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