TIMELINES OF THE GREAT DEPRESSION: 1920s (Decade) During World War I, federal spending grows three times larger than tax collections. When the government cuts back spending to balance the budget in 1920, a severe recession results. a minor contribution to the Great Depression in the U.S., but During this time, America will experience the greatest economic boom Examines key historical events from 1919-1945 including European politics and the Depression. Includes over 30 animated maps and activities, animated timeline, and interactive quiz. This website provides detailed information on great line time. This website provides detailed information on great line time. This website provides detailed information on great line time.