It's my understanding--only from watching pundits on television; no formal research--that the deepening of the depression in 1937 was the result of FDR finally realizing that he couldn't continue to run deficits forever, and tried to balance the budget. I suspect this was through increased taxes, and not cuts in spending.

                   If that's the case, and that this is also the situation in which we find ourselves now, it doesn't seem like there is any actual way out of this, short of another world war.