Are we able to pinpoint historic events that shaped the country into what it is today? I think so. I think that there are many events that impacted our country, the one I want to focus on is the Great Depression. Weak banking, overproduction, and a bursting credit bubble can all be blamed for the Great Depression. When Franklin D. Roosevelt became President in March of 1933, the country was in desperate need for change. Franklin D. Roosevelt promised the American people "A New Deal". Roosevelt and his advisors studied the works of John Maynard Keynes a British economist. Keynes believed that the way to fix the economy is to increase spending. By increasing spending, it creates demand, demand creates a need for more production, which creates a need for more workers to produce the demanded products, creating money for the people for them to spend and improving the economy. Roosevelt increased government spending, created outlines for welfare to help people in need, Social Security was created, child labor laws were put into place, minimum wage was established and labor unions grew. These policies he implemented changed America forever. President Obama has tried to implement the same theory by increasing government spending to increase consumption. The idea of you have to spend money to make money. It worked back then and the country was incredibly prosperous for 25 years. Why would we not try a formula that had such great results again?! I know that there is so much more that accounted for the recovery of our country during those incredibly rough years, but I feel like it was President Roosevelts brave actions and determination to rebuild our country that was crutial in turning the economy around and shaping the United States into what it is today!
"I do not look upon these United States as a finished product. We are still in the making."
Franklin D. Roosevelt~32nd President (1933-1945)
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