A lot of US history got mixed up during this campaign. For example, during an interview on national television, Senator Biden said that President Roosevelt (FDR) got on TV and explained the stock market crash to calm fears.
Hoover's and Obama's policies have almost nothing in common. Maybe you are thinking of FDR's policies?
Arguably, FDR's policies did not succed alone. We needed WWII to get out of the depression. No sane person wants a repeat of that, but the fear is that some people in Washington may put their own interests ahead of the nation's.
John