BRIT HUME: That's right. Well, then, the New Deal -- everybody agrees, I think, on both sides of the spectrum now, that the New Deal failed. The debate is over why it failed. People on the left believe it failed because Roosevelt, at the end of the day, really didn't do enough spending, that it simply wasn't spending -- he was not spending, whether deficit spending or not, on a scale grand enough to lift the damaged U.S. economy out of that depression.

There are people on the other side of the spectrum who would say, maybe, but look at this as well. President Roosevelt waged what could only be called a jihad against private enterprise. He prosecuted leading figures in it, Andrew Mellon being a conspicuous example. He prosecuted little companies, butcher shops in New York, as has been laid out in Amity Shlaes' book about the new -- book about the history of the Great Depression.

It created a very uncertain, even poisonous atmosphere for business. That is not the atmosphere that you want, and I'm bound to say, Neil, that I don't think that's the atmosphere the Obama administration is seeking to create. The Obama administration is not showing any signs it wanted to wage the kind of war on private business that Roosevelt waged. The question, of course, still is whether the spending on the scale that we're seeing will end up doing more harm than good --