An e-mail about this post yesterday:

Rich-
I fear it is not that simple. With all the continued doomsaying by the administration, I think they are laying the groundwork to be able to claim “success” even if nothing at all is better – even if things are worse. Why else continually compare this recession to the Great Depression? If FDR is the model, then look at his track record: FDR was re-elected in 1936 and again in 1940 despite the fact that the country was still in a depression, not because he’d cured it. FDR was viewed as a calm and strong leader in a time of enormous crisis – something the Obama team already claims for their guy.
I remains to be seen whether that will work; whether Obama will be given a “pass” on the economy that no other recent president has gotten. I think it is absolutely possible…