Obama's Stimulus Package & the New Deal

Only available on StudyMode
  • Download(s) : 239
  • Published : December 14, 2009
Open Document
Text Preview
Our country has seen many president elections. In these elections we have to distinguish which of the candidates’ best fit the country’s needs. Candidates the put together plans or projects into perspective, this is how we decided who is better fit for the job. We pick which plan sounds better and which one fits our needs. These presidential candidates take their time in to making these sort or blueprints for what they plan on doing for the next four years. They take what is wrong around the economic system and break them down into smaller issues that they can work on by taking small steps. These plans also take what is going wrong with the nation as a whole and address these issues as well. One of the most recognized plans was President Roosevelt’s New Deal, and our most recent is President Obama’s Economic Stimulus Plan.

Franklin D. Roosevelt’s New Deal planned to aid the country during the Depression. There were two parts of this economic system. There was the “first new deal” that dealt mainly with agriculture, banking, and railroads more of industrializations issues. Then there was the “second new deal” that dealt with more of the employment issues. It dealt with social security, labor unions, also dealt with minimum wages and maximum hours. Franklin Roosevelt’s New Deal did get congress to pass many emergency organizations. Like the National Recovery Administration dealt with setting minimum wages and maximum weekly hours, which was later found unconstitutional. Many of its labor provisions reappeared in the National Labor Relations Act (Wagner Act). The New Deal also established Federal Deposit Insurance Corporation (FDIC), due to the depression banks weren’t giving out any money; people couldn’t even access their savings. The FDIC enabled safety of deposits that helped people to grow trust in banks again. The Social Security Act was established in 1935, this provided benefits to retirees and the unemployed, and a benefit at death. They claimed it would...
tracking img