Obama's Recovery Act Essay

The economic conditions of the 1930’s in America were and amplified version of what we experienced in the 2008 recession. The circumstances, policies, and reception of these changes were very much alike. President Franklin Delano Roosevelt and President Barack Obama’s actions in their terms as President are comparable, especially their trademark policies: The New Deal of 1933 and The Affordable Care Act of 2010, respectively. These policies inadvertently stretched the power of the Federal government, changing the meaning of federalism, especially in government-business relations. The New Deal encompassed innovative programs designed to address the economic crisis of the Great Depression and its devastating impacts on millions of Americans. It started with President Franklin Roosevelt’s first one hundred days in office. The…

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After a devastating earthquake hit an already poverty-stricken nation, Obama immediately passed the Haiti Debt Relief and Earthquake Recovery Act of 2010 to provide funds to reconstruct the third world country. The act gave Haiti $100 million and urged the Secretary of Treasury to give the country a pass on anything that they might need to repay (Haiti Debt Relief, January 2010). Specifically it sought to cancel all remaining debts by Haiti, suspension of its debt service payments, and provision…

Addiction can be defined as dependency on something such as alcohol and drugs. Drugs and alcohol are harmful because they affect people’s behavior resulting in antisocial habits, lowering self- esteem and ruining one’s motivation towards achieving life goals. People suffering from alcohol and drug addiction can have an appropriate response if only they go through the diagnosis and the recovery process. However, if the person’s engagement in recovery activities is ignored, addiction will be…

of it, it seemed, and yet the programs did not do much at all to stop the Depression. If anything at all, the Depression was longer than it should have been, according to Jim Powell. There are also people rolling even more barrels of money towards the money wasting man, and that proves in itself that the programs were very ineffective for the amount of money that they were putting into it. Some people might say that the New Deal helped create many jobs and it made people’s lives…

excise tax to be able to listen to FDR’s fireside chats! This and social security taxing caused everyday citizens to have less money to spend and employers to have less money for job growth. From 1933 to 1940, federal taxes more than tripled, going from one point six billion to five point three billion. New Deal jobs were only created by outrageous taxing which made labor more expensive, destroying established jobs. Even in 1939, unemployment was still over seventeen percent. Also, due to FDR’s…

intellectuals who deny the success of the New Deal point to the year of 1928, when the economy recessed, commonly called the Roosevelt Recession. They claim that if the New Deal was entirely successful, then that huge recession should not have occurred. However, these critics fail to address the reasons why the economy dropped during that time. After constantly spending and printing money to help the economy recovery, Roosevelt underwent some doubt in his methods. He feared inflation and the…

Administration (CWA), this was a short lived program it stared to cost too much. The Agricultural Adjustment Act (AAA), this was meant to help bring back the farm economy. The Second New Deal was more focused on permanent programs. The Wagner Act or better known as the National Labor Relations Act (NRA), which gave businesses money to hire people, and the business could not stop the people from organizing a union. Another program is the is the Social Security Act (SSI), you get what you pay into…

and get industry and agriculture back on their feet. Roosevelt declared a national “bank holiday” the day after his Inauguration. He closed all banks and called in Congress for a very special meeting. Four days later, congress passed the Emergency Banking Act. The EBA permitted banks to reopen if a Treasury Department inspection showed that they had sufficient cash reserves. When banks reopened on March 13 deposits exceeded withdrawals, which restored the nation 's banks back into a stable…

Some conservatives were outraged about the way in which the federal government was regulating commerce and the way in which it was going against the capitalist zeitgeist. An example of this was the Supreme Court case Schecter vs United States, in which the supreme court invalidated the National Industrial Recovery Act. The NRA was an essential part of the first New Deal that dealt with providing workers with fair conditions, amongst them having a living wage. When delivering the majority…