"...and exports to those economies dragged the US out of depression"
If by "exports" you mean all the bullets and bombs and tanks and so forth that the US sent out to blow up everybody else's stuff, then I agree with this statement. You also need to include all the stuff that was then sent over to rebuild that blown up stuff to account for why the depression didn't continue after the war was over.
On the other hand, I heartily agree with your statement that today's problems are vast and that it may take years to heal. It's going to be painful to reduce production now that people will not be able to continue to borrow to fund lifestyles that are beyond their means. It will be even more painful when everybody figures out that the government can't do the same.
Perhaps you should read the Wikipedia article on the great depression paying careful attention to the section on effects: http://en.wikipedia.org/wiki/The_great_depression#Effects.
"...and exports to those economies dragged the US out of depression"
If by "exports" you mean all the bullets and bombs and tanks and so forth that the US sent out to blow up everybody else's stuff, then I agree with this statement. You also need to include all the stuff that was then sent over to rebuild that blown up stuff to account for why the depression didn't continue after the war was over.
On the other hand, I heartily agree with your statement that today's problems are vast and that it may take years to heal. It's going to be painful to reduce production now that people will not be able to continue to borrow to fund lifestyles that are beyond their means. It will be even more painful when everybody figures out that the government can't do the same.