Then we had a severe depression in his last year of office.Industrial production had fallen by 32.5% by March 1921 when Harding took office (and you think things are bad now!

• 归因于这一政策，在其执政后期，美国出现了严重的经济萧条----到1921年3月哈丁接任时，工业生产下降了32.；5%25（您肯定意识到：事情确实糟透了！）