so in '37-'38, there was -- rooseve roosevelt, under a lot of pressure to reduce budget deficits and so, on tightened fiscal policy quite a bit. the fed, worried about inflation, tightened monetary policy. again, i don't want to claim it's all that simple. a lot was happening.terptations at least, were that the reversal in policy too soon prevented the recovery from proceeding faster. i think -- we'll talk about lessons later on. but i think if you accept that traditional interpretation, it is that you need to be attentive to where the economy is and not move too quickly to reverse the policies that are helping the recovery. leland. >> yes. a few of the graphs that we saw today and other historical trends, it seems that after an economic slump, recovery often takes five or more years. as represented by the great depression [ inaudible ]. i was wondering, do you think it is common for unemployment to remain at high levels until sometimes a half decade after an economic slump? and is criticism often premature? moreover, how do you address these concerns in a political environment when

when president franklin ro rooseve roosevelt. alcohol legal.been a great day for mitt romney, the attention once again diverted. romney received a covetsed endorsement from jeb bush, but you wouldn't know it from all the buzz campaign adviser eric fernstrom's comments drew. joining me now, ap journalist, liz and democratic strategist stephen mcmahon. all right. i've been torn and twisted about this story. and it is sort of striking how this cycle more than any we are -- it is nothing but the gaffe police. >> yeah. >> and, look, we can talk about the fundamental problems here with romney in a minute, but this gaffe issue. anybody -- it is -- there's an entire enterprise built on the republican side. i mean, you know, the democratic side. the republican side. they look for the moment they think they gotcha. >> all about changes in the environment, in media and politics and the nexus of the two. all about tip it journalism. right? the little bits that make their way on to youtube or on to -- >> it goes viral and the moment. >> right. and people lo

president has gotten re-elected when the unemployment rate was 7% or above since franklin delano rooseve roosevelt >> my old lady. >> and crystal gave her that term. >> i appreciate it, lee and crystal. good conversation. >>> we have seen babies using smartphones, but animals? this is like that water skiing squirrel video, isn't it? you see the pictures. we're going to talk about it. because they don't take it with food. switch to citracal maximum plus d. it's the only calcium supplement that can be taken with or without food. that's why my doctor recommends citracal maximum. it's all about absorption. have 46 grams of whole grains... mmmm. ...and a touch of sweetness. you'll be delighted to discover how good they taste. in absolute perfect physical condition and i had a heart attack right out of the clear blue... he was just... "get me an aspirin"... yeah... i knew that i was doing the right thing, when i gave him the bayer. i'm on an aspirin regimen... and i take bayer chewables. [ male announcer ] aspirin is not appropriate for everyone so be sure to talk to your doctor before you begin an aspi