That old 1937 feeling

Paul Krugman warns about getting that 1937 feeling. Roosevelt cut back on the New Deal because he thought the Depression was over, and the result was a recession in the midst of the Depression. So Krugman's saying we can't cut back on government spending now.

But nothing that the New Deal with all of its alphabetic agencies had done down to 1937 ended the Depression, or afterward either. When will people learn that World War II ended the Depression. Unemployment was still 15 percent in 1940? The 1930s have plenty of lessons to teach, but this is not one of them.