Combating Economic Distress Obama v. FDR
Campaigning Amidst Turmoil Obama: 2008 FDR 1932 • Creates a platform based around ideals of government activism. • Primary interests: • Health Care Reform • Energy Reform • Financial Regulation Reform • Tax Reform (repeal of upper class tax cuts) • Potential Job Creation programs • Issues the call that Americans deserve and will get a “New Deal” • Primary interests: • The focus of his speech at the Nomination Convention in 1932 was to encourage America to “work together” and shed the values of individualism. • The term was a general description and was largely not specific in nature until the 1st 100 days.
Thought questions Thinking back to election 2008. Was Obama clear about the objectives he hoped to utilize to bring about an end to the recession? What were they? Thinking back to the election in 1932. In 1932 was Roosevelt clear about the objectives he hoped to utilize to bring about an end to the depression? What were they? What do both leaders have in common? What are their differences?
Common Threads? In Common In Difference Both generally viewed as likeable people with limited political experience before entering office. Both campaigned very effectively. Both called on personality traits to bring them closer to the electorate Charisma and charm Emphasized change from previous presidents FDR knew that Hoover was so unpopular he only had to not make gaffes. Obama had to campaign heavily against formidable foes. FDR’s situation was far worse. FDR’s physical challenges Obama emphasized more specifics Obama faced with foreign policy challenges and war
Comparing a Crash 2008-2010 1929-1941 Deregulation in finances during the previous decade Spiraling cost of health care Downward employment spiral Crash of prominent countries Derivatives and problems in financial markets Housing market Credit freeze Supply and Demand issues from WWI Buying on Margin High Tariffs Defaulting on Int’l Loans Decline of multiplier industries Imbalance of wealth