On the recordFebruary 4, 2009
I don't think there is any economist out there who will say there was anything until we got into World War II when we saw the Great Depression break. Before Pearl Harbor in 1941, December 7, the unemployment rate was going down. Why? Because we had Americans working in those defense plants, who were making those arms that we were shipping overseas at the time, for example, under Lend-Lease. So we watched those numbers start to drop, and they really dropped, of course, during World War II when Americans were out there in uniform and in the defense plants. As the gentleman had mentioned a little bit earlier, one of the things that concerns me is: Where are we going with this debt? Because we just keep adding to it in this country.
Source
govinfo.gov
