Obama's speech today was interesting. It was basically an attempt by him to justify the destruction of capitalism.
He said, "We are not out of the woods yet. We will have more job loss and more foreclosures, and more pain before it ends." Of course he doesn't say how long it will last.
If history is any indicator, it will last a long time. The last time the government increased by this much was in response to the stock market crash in 1929, and FDRs new deal failed to put an end to that depression for ten years.
Obama believes that the reason FDR's new deal failed was because he didn't' spend enough fast enough. Which is why, in his speech today, he said, (paraphrasing), "What is happening right now is people aren't spending money, so businesses are suffering. To get the economy rolling again someone has to spend money. So, if the people aren't going to do it, it is the role of the government to spend money in order to get the economy rolling again."
In that sentence, he basically justified the end of capitalism as we know it, because what he described is the opposite of capitalism: it's the growth of socialism. And it has failed every time it has been tried.