Posted By:
Stephen MitchellI am not hopeful that President Obama or his policies will cure America's ills any more than the central planning of presidents and congresses before him.
Earlier this year I read a book that focused on the years before and during the Great Depression (The Forgotten Man by author Amity Schlaes). Although the author does not directly find a parallel, I could not help but notice the similarity of George W. Bush's meddling in the free market with Herbert Hoover's. And the very likely, considerable meddling by Obama - mirroring FDR. I heartily recommend this book although it took me a quite a bit of time to read (re-reading many portions) it.
For my part, I will pray for the new president but if he forsakes policies that have historically gotten the nation back on track (i.e. cut spending, cut taxes and reduce government's role in micro-managing the economy) and opts for the central planning policies of Europe, much of Asia and most within his own party, we will only see a repeat of the failures of FDR. And a long, difficult Depression.