Where Is the Obama New “New Deal”?
The New “New Deal” That Americans Voted for Has Failed to Materialize. Despite the mandate given to Barack Obama on November 4, 2008, we have so far seen nothing that looks like the New Deal—the multitude of projects that President Franklin Roosevelt initiated during the Great Depression, to put thousands of jobless Americans back to work.
What Has Gone Wrong? What part of this mandate did President Obama miss, when he was swept into office in part out of the driving fear that we were sinking into the economic abyss.
No Matter How Much Some Americans have challenged the value of FDR and the New Deal, deep down where we Americans share so many core values, we know that the New Deal saved countless American lives. When it's our jobs at stake, we know that only the government can move quickly enough and large-enough to put the brakes on.
But the Impending Disaster that Many Americans Fear Todayare reality for millions of American families right now. As we speak. As we debate. As we dither and discuss and hide behind conflicting ideologies.
America Needs the Jobs of Tomorrow. And America needs those jobs right now.
Seventy Years after FDR gave us the beautiful and durable WPA and CCC buildings,the buildings still stand. All across America today, these wonderful facilities are enjoyed by millions of Americans each year. They bring pleasure to all who use them–and their durable construction has spared the American taxpayer millions of dollars we would have paid over the years since the Great Depression, had FDR not acted so wisely and prudently on America’s behalf.
What FDR Did with those New Deal programs was to borrow work from the future. America borrowed the jobs of tomorrow to put Americans back to work. The money would surely arrive later–but the jobs were needed back in the day.
These Are the Kind of Jobs America Needs Right Now.
We Need to“Borrow” the Jobs of the Future, to put American construction-workers back to work right now.
Is it Possible That Some People Don’t Understand This? It’s the same thing we do when we borrow for college education, knowing that this kind of “deficit spending” will yield big dividends in the future.
On the Other Hand, America lives at some current risk that President Obama, yielding to relentless caterwauling about the deficit, may rein in this future investment. Doing so risks sinking the economy quickly back into recession or worse–at a time when the resources of the typical American family are already sorely stretched.
Deficit Spending Cannot Continue Indefinitely without giving rise to inflation. But borrowing work from the future–with such public-funded projects as FDR’s projects that stand the test and ravages of time)–actually stimulates the economy in a real and constructive way.
By Building Tomorrow’s Projects Today, the government buys two things for the American people:
First, Cheaper Labor currently available means that these jobs cost less now than they would in a post-recovery future.
Second, Spending for These “Future” Projects Today means that our children and grandchildren won’t have to spend for them tomorrow.
What May Look Risky–spending now, when we don’t yet have the money–is actually just good business sense. It's one of the best investments the nation can make right now, at a time of cheap labor and high unemployment such as today.
It's the Fiscally Prudent Decision: to invest in tomorrow’s work projects today. And further, the American people voted for this kind of job creation.
Back in the Great Depression, it took FDR, a scion of wealth, a person raised to understand the methods of investment, to come up with the CCC and WPA deals.
Those Beautiful Buildings That America Loves:
Proof That Borrowing Jobs from Tomorrow is a fiscally conservative investment that stands the test of time.