I don’t believe Americans saw Roosevelt as putting forth a ponzi scene. I believe they saw him as someone who was doing something to bring America back from the brink of destruction. You can argue all you want whether his policies prolonged the depression but millions of Americans believed they were necessary and people were working again. Obama has done nothing that has put people back to work.Unemployment got worse under FDR. But Americans blamed Hoover. And the GOP. Just as today, Americans blame Bush, and the GOP.
In politics, perception is more important than facts. If enough voters believe it was all “Bush’s fault”, Obama stands a good chance of being re-elected. That thought turns my stomach.