The New Deal Lifted the US out of the Great Depression

Mary Beth Norton et al. (2009). A People and a Nation: A History of the United States. Since 1865. Cengage. p. 669. ISBN 0547175604. http://en.wikipedia.org/wiki/New_Deal 

Broadus Mitchell, Decade: From New Era through New Deal, 1929–1941 (1964) (wikipedia)

"This banking reform offered unprecedented stability: While throughout the 1920s more than five hundred banks failed per year; it was less than ten banks per year after 1933." http://en.wikipedia.org/wiki/New_Deal 

Mastering Modern World History by Norman Lowe, second edition, P.117 http://en.wikipedia.org/wiki/New_Deal 

"By the time the NRA ended in May 1935, industrial production was 55% higher than in May 1933." http://en.wikipedia.org/wiki/New_Deal 

You cannot count the workers in the WPA and other job creation programs as employed, so the real unemployment rate dropped to 14.3% in 1937 and rose again to 19.0% in 1938. http://en.wikipedia.org/wiki/New_Deal 

Federal Expenditures accounted for only 3% of GNP in 1929, and war spending consumed 40% of GNP in 1944 http://en.wikipedia.org/wiki/New_Deal 

http://en.wikipedia.org/wiki/New_Deal  119.  America in our time: from World War II to Nixon—what happened and why by Godfrey Hodgson

Cole and Ohanian use BLS statistics to establish average wages and prices in a variety of industries before the crash. They then adjust these for annual increases in productivity to show that prices and wages lagged behind what they would have been in real terms had the New Deal not taken place. Cole and Ohanian specifically blame the lagging economy on wage and price controls undertaken by the Roosevelt administration. They argue that the fixing of prices contributed substantially to the slow recovery. They cite the lack of anti-trust cases taken to court during the years 1932 to 1938. They claim that the economy didn't reach full employment again until 1943. http://newsroom.ucla.edu/releases/FDR-s-Policies-Prolonged-Depression-5409?RelNum=5409  http://hlcole.bol.ucla.edu/NewDealucla.pdf 

Even without job search friction, their model still shows output falling by 11%. (pg. 11)

Milton Friedman argues that if the fed had made more open-market purchases of bonds to keep the money supply constant that the crisis could have been averted. http://fee.org/freeman/detail/the-great-depression-according-to-milton-friedman 

Cole and Ohanian use BLS statistics to establish average wages and prices in a variety of industries before the crash. They then adjust these for annual increases in productivity to show that prices and wages lagged behind what they would have been in real terms had the New Deal not taken place. Cole and Ohanian specifically blame the lagging economy on wage and price controls undertaken by the Roosevelt administration. They argue that the fixing of prices contributed substantially to the slow recovery. They cite the lack of anti-trust cases taken to court during the years 1932 to 1938. They claim that the economy didn't reach full employment again until 1943. http://newsroom.ucla.edu/releases/FDR-s-Policies-Prolonged-Depression-5409?RelNum=5409  http://hlcole.bol.ucla.edu/NewDealucla.pdf ;