I recommend the article in Friday's Wall Street Journal Obama's Rhetoric Is the Real 'Catastrophe'. The author points out that despite President Obama's constant comparison of our situation to the Great Depression, first to support his campaign and more recently to justify the expensive bailouts and stimulus package, things are not nearly as bad. They are certainly bad, but thus far the figures are much more in line with the 1981-82 recession than the Great Depression.
But his constant harping on this message is not helping public confidence, which is key to our recovery.