Spinning the Pendulum Back
Barack Obama is most commonly referred to as the new FDR, laying out a stimulus to save the failing financial institutions and offering a New Deal that saved the country from certain calamity. This begs the questions; however, are Mr. Obama’s actions more comparable to that of the late FDR or his predecessor Herbert Hoover. In history, Hoover gets a bad rep for seemingly doing nothing to curtail the effects of the depression, instead relying on the free market to fix itself. This isn’t entirely true though, because Hoover actually attempted something very similar to our current stimulus package called the RFC with disastrous effects that are hauntingly ominous to our own predicament.
Look into the details of the plan for yourself here.
