Just because B.O. says it, doesn't make it true. " Things would have been worse" had the money not be printed, the future taxes encumbered, and previous consequences ignored. "Things will only be better" if I print more money, bankrupt our great-great grandchildren's future so the we don't experience any unpleasant moments, so we can continue to pay people not to work, so we can continue to buy what we can't afford, so we can be as irresponsible as we can possibly be.
In one single generation we have gone from the best to the worst, from the most selfless to the most selfish, from responsible to irresponsible, and from decent human beings to despicable.