OBAMA V. FDR

Combating Economic Distress

Obama: 2008 FDR 1932

Creates a platform based around ideals of government activism.

Primary interests: Health Care Reform Energy Reform Financial Regulation Reform Tax Reform (repeal of upper

class tax cuts) Potential Job Creation

programs

Issues the call that Americans deserve and will get a “New Deal”

Primary interests: The focus of his speech at the

Nomination Convention in 1932 was to encourage America to “work together” and shed the values of individualism.

The term was a general description and was largely not specific in nature until the 1st 100 days.

Campaigning Amidst Turmoil

Thinking back to election 2008. Was Obama clear about the objectives he hoped to utilize to bring about an end to the recession?

What were they?Thinking back to the election in 1932. In

1932 was Roosevelt clear about the objectives he hoped to utilize to bring about an end to the depression?

What were they?What do both leaders have in common? What

are their differences?

Thought questions

In Common In DifferenceBoth generally viewed as

likeable people with limited political experience before entering office.

Both campaigned very effectively.

Both called on personality traits to bring them closer to the electorate

Charisma and charmEmphasized change from

previous presidents

FDR knew that Hoover was so unpopular he only had to not make gaffes.

Obama had to campaign heavily against formidable foes.

FDR’s situation was far worse.

FDR’s physical challengesObama emphasized more

specificsObama faced with foreign

policy challenges and war

Common Threads?

2008-2010 1929-1941

Deregulation in finances during the previous decade

Spiraling cost of health careDownward employment

spiralCrash of prominent

countriesDerivatives and problems in

financial marketsHousing market Credit freeze

Supply and Demand issues from WWI

Buying on MarginHigh TariffsDefaulting on Int’l

LoansDecline of multiplier

industriesImbalance of wealth

Comparing a Crash