Few economists believe that Roosevelt’s New Deal ended the Great Depression. However, in the hearts and minds of millions of Americans Roosevelt was a gallant reformer who brought their country out of the harshest economic times.

History has a tendency of repeating itself, and although the Obama administration’s stimulus package will have a marginal effect on ending the current recession, it is a good bet that future generations will see Obama as many Americans see Roosevelt today.

The consensus among economists and economic historians is that the Great Depression ended primarily because of the increased industrial production that followed the United States’ entry into the Second World War.

The New Deal, by contrast, was full of “pork barrel” spending, creating temporary jobs for unemployed workers that ultimately contributed nothing to stimulating economic growth.

Similarly, a closer look at the current stimulus package makes one wonder how it will contribute to the end of the recession. The package includes $150,000 to build a rodeo museum in South Dakota, $1.7 million on pig odor research in Iowa and $238,000 to support the Polynesian Boating Society of Hawaii. Although the plan includes some funding to help failing banks, the overwhelming majority finances random projects that will contribute nothing to increase industrial production.

The media’s coverage of the recession and subsequent stimulus plan indicates that future Americans are likely to be deceived that the package ended the current recession.

In the first weeks of the recession, media reports became increasingly apocalyptic and paranoid. Indeed, the current recession is the most severe since the 1970s.

In the fourth quarter of 2008, the United States’ Gross Domestic Product declined by 6.2 percent and unemployment has surpassed the 8 percent mark. However, this cannot be compared to the Great Depression, when GDP fell by 25 percent annually and unemployment at times neared 30 percent.

While an 8 percent unemployment rate is dismal by American standards, many industrialized societies in Europe and elsewhere would have dreamt of such a low rate in previous years.

However, much of the media portrays Obama as the deus ex machina that will crush the recession and lead the world into a new era of prosperity. Once the unparalleled orator Obama gave another inspiring speech, the media was sure to note that the stock market responded positively.

Meanwhile, a growing number of economists is convinced that the recession that was expected to impoverish a whole generation of Americans will begin to end by the third or fourth quarter of this year.

The recession will end sooner or later. The economy always follows a cyclical pattern; it is impossible for growth to be sustained permanently, and a recession is inevitable sooner or later.

Furthermore, firms are better equipped for recession today than they were in the 1930s. However, the only effect that the Obama Administration will have on future prosperity is the confidence its words encouraging greater spending and investment inspire in consumers and firms.

A trillion dollar package mostly consisting of wasteful spending on bizarre projects is not necessary for this. But it is best to make sure that future history textbooks will glorify Obama.