Yep. One of the causes of the global depression of the late 1920s is that governments did not intervene sufficiently forcefully when money supply seized up, and

Yep. One of the causes of the global depression of the late 1920s is that governments did not intervene sufficiently forcefully when money supply seized up, and by the time they figured out what was going on it was too late. The Bush/Obama stimulus prevented a collapse of the global banking system although reasonable people are arguing that the stimulus didn't go far enough (since we still have 12% unemployment in many parts of the country). If your opinion is that the deficit is the root of all evil, you probably feel that way because you have a bunch of cash in the bank. Regardless, the time to fight deficits is when you have money to fight it with (as happened under the Clinton administration).