February 15, 2009
Is Obama another FDR?
Barack Obama is very consciously modeling the beginning of his Presidency after Democratic icon Franklin Delano Roosevelt, who is incorrectly credited as the savior of America from the ravages of the Great Depression. Obama is trying to tap into that myth, adding its luster to his own undeniable image of an almost messianic ability to meet all people's problems with focused government intervention. But to understand what the President is trying to accomplish, it's important to also understand what Roosevelt really accomplished -- and what he didn't accomplish -- and why, in spite of statistics that prove the contrary, the image remains that Roosevelt did indeed save America from the Great Depression. Then and NowBank closures rock America today, as they did in the Great Depression, but in far fewer numbers. Few realize that the greatest number of bank closures occurred in Roosevelt's first year in office, after his fabled "100 Days." In 1932, the last full year of...(Read Full Article)