Essay on Obama Is Not Fdr

1247 Words Oct 1st, 2013 5 Pages
Reelection With the American economy in such dire shape, re-election may seem unlikely for President Obama, but unlikely does not mean impossible, if Franklin D. Roosevelt did it, then maybe Obama can too. Roosevelt held some strong cards, not all of which Obama enjoys: First, his party commanded large majorities in both houses of Congress throughout his first term. Tuesday's (Nov 2) elections, which delivered the House to the Republicans, have made matters worse for Obama. For the rest of his term, he will find himself in a far different position than the first-term Roosevelt: He will be in opposition to Congress, rather than in charge of it. Second, Roosevelt had good timing. He entered the presidency a full three years …show more content…
He raised corporate taxes 15%. His Emergency Relief and Construction Act was a stimulus bill that funded work programs. He created the Reconstruction Finance Corporation (RFC) that was a kind of TARP providing government-secured loans to banks, railroads and farmers. He caused Stock Exchange practices to be reformed. According to Wikipedia, Roosevelt attacked Hoover for "reckless and extravagant" spending, of thinking "that we ought to center control of everything in Washington as rapidly as possible." Roosevelt's running mate, John Nance Garner, accused the Republican of "leading the country down the path of socialism". Let’s look back at the Depression for a second. Now, if you recall, Herbert Hoover became president in March 1929 when signs of a slowing economy were evident. By August 1929 recession hit. This recession turned into the Great Depression, with the economy hitting bottom in March 1933. So, the entire recession we remember as being the depths of the Great Depression occurred while Herbert Hoover was President, not during FDR’s presidency. Fast forward to December 2007 when this recession began and we can see that George W. Bush presided over 11 months of recession. So, Obama comes into office during recession unlike Hoover, but also unlike Roosevelt. However, the key difference here is that the economy had already hit bottom when Roosevelt entered and is continuing to worsen for Obama. At the height of the

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