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This cartoon is drawn by someone with a very conservative point of view. It is claiming that the New Deal is a communist plot to destroy the United States and make it into a communist country.
We can see this most clearly in the form of the radical in the left foreground and in the form of Stalin in the background. The cartoonist is saying that they are happy because excessive New Deal spending is destroying the United States and because the problems that will come from the spending will be blamed on capitalism and used to justify making the US into a communist dictatorship.
Interestingly, there are those on the right who are making similar claims about the policies of the Obama administration today.
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