This week we assess the role of government concerning social reforms and government activism. A key point to remember, and one which many people overlook, is that government can do absolutely nothing until it assesses taxes and collects revenues from someone. This may be a cliché, but it is totally true, “There is no such thing as a free lunch.” Franklin Roosevelt came to the presidency in 1933 with the financial system and economy spiraling downward, with millions of Americans unemployed. The so-called First New Deal sought to stabilize the banks and promote the economic recovery, while the Second New Deal used the government to address unemployment, to support organized labor, to provide pensions for the elderly, and to increase taxes on the wealthiest Americans. Some of the New Deal programs experienced success and continue to the present day. Many others failed to achieve their goals adding to the federal budget and deficit.
For your initial post, identify one of the New Deal initiatives and assess its goals and effectiveness. Was it cost efficient? Does it continue to this day and what is the status of its funding?
In responding to your peers’ posts, select a post that chooses a program other than that which you explained in your initial post. What evidence supports your analysis?
What were the features of the Wagner Act and how is it relevant today?
What was the purpose of the CCC? Could it be used today as a means to earn citizenship for immigrants?
What is the FDIC and how is it funded?
