Originally Posted by ijusluvit

So anyway, the topic:

The commentary was interesting because it accurately presented the situation in 2008, as well as the power and destructive force of "the villain".
History has repeated itself to an extent and, like FDR, one would like to imagine Obama declaring war on the robber barons and putting everybody back to work.

But things are quite different now. Compared to the situation when Obama began, the 30's depression had had a far deeper impact on a higher percentage of Americans when FDR took office. More people were far more desperate than they are now, willing to work at anything, even difficult, physical and 'messy' jobs. It was much more feasible to put millions to work in infrastructure building and related manufacturing industries than it is now. Remember, we aren't manufacturing anymore. Bridge, road and courthouse building doesn't use an unskilled workforce army anymore. The infusion of government cash, which was far more available to FDR than to Obama, allowed millions to rise out of poverty and become full-fledged consumers, which really did turn things around, because the stuff consumed was all made here. Talk about bang for the buck.

Twenty/twenty hindsight says the new Obama could have been ruthless with Wall Street and demanded the rich increase their contributions to society. My belief is the media would have roasted him unmercifully for this extremist position, and he would have immediately created enormous opposition, interfering with his ability to do anything. The media did not have that power to sensationalize FDR's agenda. Instead, Obama tried to check corporate greed more subtilely and take a shot at the unreachable goal, health care. In the years to come we will see how the template of the new health care system will benefit us as a nation.

The intransigent Republicans, especially the tea party newbies have changed the game. Their myth about the wealthy providing jobs has been exposed. The necessity to require new revenue streams from the wealthy is finally gaining momentum. It's easy to say that even though additional revenue from the wealthy has been part of Obama's plan from the beginning, he has not insisted on it until now. But I think he finally has the support to lead a movement to significant tax reform. I imagine him stewing, planning to find ways to compel S&P to reconsider - while Congress rests.

Let's wait a little longer for a final judgement on what the President has accomplished.