American Political Thoughts - Essay Example

It is imperative that both the great depression that occurred in 1930s and the late 2000s great recession completely draws the difference between American presidents especially Franklin Roosevelt, George Bush and Barack Obama. The two economic crises caused banking-financial crisis, great surge in unemployment, and severe stock market slump. It is imperious to understand that in all the cases, both the presidents pledged to eliminate the economic crises and provide a state of calm within America.

The paper explores how the how the three presidents managed to retain economic crisis during their era. In addition, the paper analyses significant similarities and differences in the policies employed by each administration in maintaining economic levels. The great depression remained as the historic economic crisis in western industrialized countries that started from 1929 and ended in 1940. The depression remained as the longest economic crises in American history marked by significant decline in investment, rising levels of unemployment, and decrease in living standards of American people.

The great economic downtown resulted from Wall Street cash crash and the great drought that affected agricultural activities on the south (Skocpol and Jacobs 15). The great depression started during President Hoover era and proceed during Franklin Roosevelt presidency. During the start of great depression in 1929, American people blamed President Herbert Hoover for his policies that may have resulted into economic down town. When Franklin D. Roosevelt (FDR) won the 1932 presidential elections, he began the longest journey of recovering the depressed economy.

Roosevelt immediately assured American people of the possibility of economic recovery and then initiated the New Deal policies aimed at normalizing the depression. Franklin D Roosevelt became the president of United States in 1932 and succeeded Herbert Hoover. The beginning of his