Down in the White House basement, Harry Truman stood close to the cluster of microphones and faced the hot stare of television cameras. He sounded like the Truman of campaign days as he spoke to the nation in his chatty Missouri twang. "Now, some people are saying . . . that we're in a depression," said the President.
"Many of these people, for political reasons, would like to have a depression. Others are saying there is nothing to worry about.
"Both groups," he declared, "are wrong. We're not in a depression. But an increase in the number of people out of work...
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