One Small Problem
So far as I can tell, Obama's solution to the current economic problem is a "stimulus package," increased federal spending and either a tax cut or at least no substantial tax increase in the near term. The money has to come from somewhere; even allowing for the possibility that winding down the Iraq war, net of winding up the Afghan war, will free up some money, that is going to require a lot of federal borrowing.
What set off the Great Depression was a collapse of the money supply due to the failure of banks. What seems to be happening at present, to the extent that popular accounts can be believed, is a situation where it is hard for firms to borrow money--not a shortage of money but of credit. Having the government go onto the capital market and borrow an extra trillion or so in competition with other borrowers doesn't seem like a sensible way of improving the situation.