President Obama, with characteristic modesty, is giving himself credit for saving America from another Depression.
Sorry, but I think George Bush is the hero.
Obama has made a career out of blaming Bush for the world's woes but in this case the facts show that Bush has a better claim.
The government says the 18-month recession ended in June 2009.
That was six months after Obama took office, and long before any of his misguided policies took place.
You can't take credit for ending a recession when all you've done is make speeches blaming your predecessor for creating it.
In truth, government action usually is too little, too late, in affecting recessions as the accompanying chart shows. They are a natural phenomena and self-correcting. Generally, the government just prolongs them, or turns them into a depression.