Intro
This social documentary involving a case study will examine the great debate that exists amongst many Americans regarding the government and spending.
In the aftermath of the stock market crash of 1929, president Franklin Roosevelt established the Works Progress Administration to spur economic growth in America. The Great depression destroyed the wealth and livelihood of Americans as unemployment rates soared to over 25%. The federal government spent over 13 billion dollars on the Works Progress Administration and in result over eight million public jobs were created. The Works Progress Administration holds a legacy of successfully ending the great depression by enlarging the American middle class, decreasing the unemployment rate at the time, and by providing infrastructure that is currently used today.
In 2008 the United States was faced with its biggest financial crisis since the great depression. Large economic suffering was felt from Wall Street to Main Street during what was called the2008 recession. Large financial institutions relied on government bailouts, and the stock markets declined steadily worldwide. Newly elected president Barack Obama proposed a government stimulus package. The Obama stimulus package was widely supported by democrats in the house and senate and was signed into law on February 17, 2009. Obama projected that the 787 billion dollar stimulus package would save 1-2.5 million jobs and would also provide the middle class citizen with significant tax cuts, greater unemployment benefits, education and health care.
Play Obama youtube
Although passed by both the house and the senate, the stimulus package came with significant opposition from the right and many note worthy republicans resisted the plan.
Play Ron Paul first min or so
Opponents of the stimulus package argue that the plan will not stimulate growth, stating that all the stimulus package will do is move around money that is already in the economy. Additionally arguments have been made that the stimulus package will not create new jobs, the opposition claims that as soon as stimulus money dries up workers will go back to unemployment under worse conditions.
The debate regarding the widespread effects of the stimulus package will continue. But its ability to revitalize small town economies is undeniable. Jennifer Scuteri selectmen of Hamilton MA, a small town just north of Boston explained the effect of the stimulus package on her town.
Play Jen
The Works Progress Administration stands as a benchmark in American history as a successful implement of government spending. The Works Progress Administration holds a legacy for stimulating economic growth during a time of severe economic turmoil. Unlike the Works progress Administration, the effects of the Obama stimulus package remain to be unseen, and the ultimate legacy of the biggest government investment plan will be determined in future years to come.