53% of Americans (and Senator Specter) Think It’s Likely U.S. Will Enter Depression Like the 1930’s

53 percent of Americans think that it is likely that the U.S. will enter a depression like during the 1930’s, according to a new poll by Rasmussen.

Senator Specter thinks so also, saying:

Our economic problems are enormously serious, more serious than is publicly disclosed. And I think we’re on the brink of a depression

ABC News suggests that Specter is talking gloom and doom for political reasons:

Sen. Specter is fully aware of the vulnerability on his right flank [for supporting Obama’s budget] which may be why he painted such a dire and mysterious economic outlook when speaking with reporters.”

I wish that all of the fears of a depression were unfounded, or political hype.

However, many experts actually agree with Specter.

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