Many people have made comparisons of Obama and McCain to past candidates, perhaps most often Reagan, but according to Sean Wilentz of Newsweek this comparison is wrong. The age of Reagan is over and we are currently suffering the results. Deregulation of banks and less government in financial matters are a few of the reasons we face an economic collapse. What past President could provide a blueprint to get out of this economic cycle? Franklin Roosevelt is one possibility, but so is Teddy Roosevelt. In 1907 Teddy Roosevelt was facing a possible collapse on Wall Street. With the help of J.P. Morgan and other bankers Teddy Roosevelt was able to turn things around by 1908. His cousin Franklin Roosevelt faced the Great Depression in the 1930s. Through various New Deals, F.D.R. was eventually able to turn the economy around. Both McCain and Obama have plans to fix the economy, but Wilentz wonders if these plans are stuck in the past and the ideas of Reagan. Wilentz sees Obama as closer to the needed Roosevelt legacy, but is unsure if Obama’s plan will be enough. What will be enough? A New New Deal? At this point it seems like it’s anyone’s guess.
Link: “A Tale of Two Fine Roosevelts” http://www.newsweek.com/id/164490/page/1
Link: “A Tale of Two Fine Roosevelts” http://www.newsweek.com/id/164490/page/1
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