The Commonwealth Comment

Sunday, January 11, 2009

The New New Deal?

President-elect Barack Obama doesn't take the oath of office for another week, but he is already stressing the need for a strong economic stimulus plan. He says his proposal could create and save anywhere between 3 to 4 million jobs, but at a tremendous cost to the American taxpayers; almost $1,000,000,000,000.

History shows that the original New Deal, which was implemented by President Franklin Roosevelt helped turn the economy of the 1930's around, but it wasn't until World War II that the United States' economy was back to pre-depression levels. So, will Obama's plan to invest in the nation's infrastructure be enough?

Like most students graduating in May I am uncertain of what the job market will look like, especially in the journalism industry. We are all hoping that Obama's stimulus pays off and gets the economy back on track, so we don't wind up moving back into our high school bedrooms under our parents' roofs.

It is at this time that I'm reminded of words from the founder of the New Deal:

"It is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something." - FDR


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