Those who fail to learn from history are doomed to repeat it. Layoffs, stock market crashes and foreclosures were the buzzwords of the 1930s and are our daily reality today. The 1930s were one of the most difficult periods in American history. Millions of people suffered hardship and lost almost everything they owned. In 1932, when Franklin D. Roosevelt (FDR) took the presidential oath of office, the nation's banking, credit, and industrial systems were in a state of collapse. President Roosevelt proposed a "New Deal" that, if successful, would effectively stabilize the economy and end the nation's depression. Decades later, our country is once again feeling the devastating effects of excessive spending and ineffective tax cuts. Following in the footsteps of another great president, President Barack Obama offered the American people a “New New Deal.” Obama's stimulus plan was a series of government programs created to get the economy back on its feet and give it a much-needed boost. Although the New Deal and the current stimulus package were intended to combat widespread economic decline following market dislocations, the New Deal was a more comprehensive reform plan; while the recovery plan was aimed at the sectors most affected by the country's economic collapse. America experienced a massive economic downturn in the 1930s. This period was nicknamed the Great Depression because it was "the longest, most widespread, and deepest depression of the 20th century" ("Roosevelt and the New Deal). Its devastating effects could be felt nationwide: unemployment reached 25%, crop prices fell and more than 4,000 banks closed or suspended operations. Community soup kitchens offered lean porridge and stale bread to desperate men willing to wait... middle of paper... to solve the recession crisis, but; to reduce its damage. The stimulus package included tax relief for the working and middle classes, a one-time cash refund and financial aid to state and local governments. Several years ago, our country entered what turned out to be the worst recession since World War II. II. During this period, our gross domestic product (GDP) fell by approximately 2.8%, the equivalent of $377 billion. Our unemployment rate has reached highs not seen since the early 1980s and currently sits at 10%. climate change, President Roosevelt and President Obama injected billions of dollars into the economy and enacted various government reforms to “put people back to work” (Lendman). The New Deal and stimulus package created or modified programs that did not previously exist and brought hope to a population facing unemployment and homelessness..