Question

Many politicians, historians and economists have compared the 2008 Economic crisis with the Great Depression of the 1930s. Both are similar in that the presidents of the era reacted by infusing government spending into the economy to help stabilize the markets but are different in the manner in which that spending was directed. Describe some of the general differences between President Roosevelt's New Deal program and President Obama's Bail-Out plan.

Answer 1

Though there are many comparisons, Obama’s Stimulus plan is different from the New Deal of FDR. The Gold standard is the major difference between the two. During the tenure of FDR, the dollar was weighed to a specific gold value. So the New Deal saw the national debt doubling for the funding of government projects. But today, we do not use the Gold standard. So it is a great relief that the situation will not be the same as that during the rule of FDR.

Answer 2

@WendyMS

Answer 3

I can not thank you enough. :)

Answer 4

:)