The above video says yes, and attributes the bad policy to Herbert Hoover. Considering the cycle of boom and bust that America had long seen, the Great Depression stands out for both its length and severity. Perhaps this is not the answer, but it it is certainly more accurate than the historical myth that says that Hoover did nothing in the face of the Great Depression.
As the recession continue to take its toll on our fellow Americans, rendering more and more of them homeless, tent cities have begun sprouting up across this great country. It would not be fair to blame President Obama for the predicament that our nation is in, but President Obama has done nothing to help the situation.
President Obama’s ‘stimulus package’ only rewarded government contractors with more spending. It is also correct to point out that former President George W. Bush’s ‘stimulus package’ did nothing more than President Obama’s spending bill.
Small businesses and the private sector in general got almost zero benefit for either porkulus spending bills. Though this recession is typical of a business cycle, there are some things that can be done to alleviate the stress the economy is undergoing and maybe expedite the expiration of the current recession. President Obama has done neither.
So it is fitting and fair to label the tent cities that are sprouting across America as Obamavilles.
(Note: In case the above YouTube video is taken down by the Blueshirts, you can see the entire story and video here.)