FDR and Obama's First Two Years

In 1933, FDR had Democrat-controlled House and Senate.
With little opposition, he was able to pass a large number
of new Federal programs into law.

Civilian Conservation Corps (CCC), 1 million men, 18-25
years, $1/day Plant trees, control tree diseases, build fire
towers & truck trails; Parks: paths, picnic areas, facilities.
$2B (1933-1939) mostly to western states

Public Works Administration (PWA)
Built roads, school buildings, dams, warships, bridges

Works Progress Administration (WPA) Permitted FDR to spend
nearly $5B at his discretion. He could select the projects,
determine the amount to be spent, and fix the wages. Indiana
Democrat county chairman V.G. Coplan told James Farley, FDR's
campaign manager, “What I think will help is to change the WPA
management from top to bottom. Put men in there who are...in
favor of using these Democrat projects to make votes for the
Democrat Party.”

Reconstruction Finance Corporation
Behind-the-scene banker for the New Deal – buying PWA
bonds, etc. Government funds were spent without any apparent
increase in appropriations and without passing any
appropriations bill. Fiscal independence gave Roosevelt the
power to act without specific Congressional authorization.

In 2009, Obama had Democrat-controlled House and Senate.
With little opposition, he was able to pass a large number of
new Federal programs into law.

Fiscal stimulus bill was almost $800B. Congress did not
appropriate or approve funds for individual programs. Funds
were spent on “infrastructure projects.” Money went to
Democrat Party supporters.

Troubled-asset Relief Program (TARP) Taxpayers
bought/guaranteed financial instruments with sub-prime
mortgages. Politicians had "encouraged" banks to make the
sub-prime mortgages or face civil rights suits. Greedy
bankers were blamed for foreclosures.

Federal Reserve bought financial instruments and Treasury
debt.