The Great Depression (1920's and 1930's) is known as the worst economic catastrophe in America. It started as a recession and progressed into a long lasting, 10 year, depression. President Hoover was the president when this economic suffrage started, however it continued when President Franklin Roosevelt took office. Although it stopped decreasing and plateaued to a steady pace, it was not increasing and most people were still suffering. Banks were failing, people were starving, and jobs were lost and none were given. The Great Depression is by far the worst economic catastrophe.
Interesting Statistics -
-50% of citizens were either unemployed or experienced wage cuts
-50% of children were without food, shelter, or medical care
-50% of senior citizens were in poverty
-40% of banks failed during Hoover's presidency