Obama needs to be less like Lincoln and more like FDR

FDR Franklin Delano RooseveltPresident Obama

According to Robert Kuttner’s piece in HuffPo, we need a second stimulus package fast if the Democrats have any chance of winning in the 2010 midterm election. (The recent losses in the New Jersey and Virginia governors’ races weren’t very comforting). And this is after Ross Douthat argued that: “If the midterm elections were held today, the Democrats would probably take an unemployment-driven beating. In Gallup’s generic Congressional ballot, Republicans are up 22 points among independents, and they’ve opened up a rare lead among the voting public as a whole.”

So Kuttner suggested Obama begin shadowing another famous, heroic president. And this isn’t the one known for his legal expertise, tall height, and gnarly distinguished beard.

The Roosevelt administration, in an era before computers, got a lot of public works spending going in less than a year. There are massive unmet needs in public infrastructure. The Obama administration needs a short term and a long term strategy. Projects such as school repair and expansion, which can get underway in a few months, should get fast-tracked funding commitments right away. Longer term needs, such as smart electrical grids and modernization of water and sewer systems, expanded mass transit, and green energy, should be targeted for funding in 2011, so that plans can get on the drawing boards now.

So for all of you aimless people looking for work: I hope you get out those hammers and start practicing.

Advertisements

2 thoughts on “Obama needs to be less like Lincoln and more like FDR

  1. The only people stating this are people who don’t read history. FDR’s stimulus spending was a complete failure. Burning farmers’ crops and killing cattle mirrored Obama’s Cash 4 Clunkers program today. The depression continued through the 30’s amongst all of FDR’s social programs. When the stimulus was pulled back, another crash immediately occurred in 1939. The ONLY thing that pulled us out of the Depression was WWII.

    Stimulus spending NEVER has been proven to work. It failed in the Depression, it failed in Japan, it failed with Bush’s stimulus checks, it failed with the virtual trillion dollars spent in 2009. It’s insane people are still asking to throw away more dollars on stimulus.

    We can’t fight deflation forever. Like with FDR and with Japan, you simply have to let deflation take its course until the bad debt is taken care of and growth can occur. Keeping the economy artificially revived with stimulus is not only temporary and wasteful, but it does nothing to solve the real problem: dealing with bad debt.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s