Word: fdr
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...year ago, with the prospect of a second Great Depression terrifyingly real, many were quick to cast Barack Obama as another FDR. The prospect of a 21st century New Deal formed part of a larger narrative about the 2008 election. Fueled by anger over two unpopular wars, an economy in meltdown and simple Bush fatigue, voters weren't merely repudiating the status quo. In choosing Obama, they had transformed a center-right country into a center-left one. (See TIME's special report on the legacy of F.D.R...
Already a historic figure on account of his race, Obama would emulate FDR by raising first a nation's spirits and then its economic indexes. By restoring the tarnished luster of democratic capitalism, the new President would restore to government a credibility undermined by decades of official mendacity and incompetence. Long-term solutions would supplant the politics of avoidance...
...post-Reagan liberalism, only to find it wouldn't support his activist agenda. Like Bill Clinton before him, Obama has been criticized for misreading his mandate, spending his political capital on health care reform at a time when millions fear for their jobs. It was as if FDR had devoted his first Hundred Days to promoting Social Security instead of a smorgasbord of emergency relief and recovery measures. (See TIME's 2008 Person of the Year: Barack Obama...
...extent that there was fiscal policy, it was halfhearted, it was pulled back,” he said of the government’s policies in the 1930s. “There was the famous mistake of 1937, when FDR was convinced that the recovery was solid and no longer needed all that support from the government...
...little more than a reflection of the frugal prudence that initially made the West so successful. And education and age care (lessons 2 and 3) have always been key to social stability and progress, no matter where you go. You could witness all those values in FDR's New Deal. The difference between modern America and China is that America sold many of those things in exchange for the consolidation of corporate wealth and power, and will struggle to resurrect that spirit of public uplift. The American dream is dead; long live the Chinese dream. Peter Wells Toowong, Australia...