Roosevelt's Proud Legacy

“The only thing we have to fear is fear itself,” Roosevelt once said. Historians like to quote that line, but usually fail to mention that it later became the slogan for his Japanese internment camps- “The only thing we have to fear is fear itself… well, that and Japanese people.”

FDR was a great American leader, who in 10 short years ended the Great Depression by extending its duration up through WWII. Greatly influenced by John Maynard Keynes, he rightly understood that liberty is a privilege, not a right. His unconstitutional yet necessary policies and subsequent threats to the Supreme Court, whose defense of liberty stood in the way of progress, reflect this principle.

FDR is known as the president who ushered in the era of big government. He had to; freedom had clearly failed when federal banking regulations culminated in the Great Depression. Millions became unemployed after the stock market crash of 1929, but there was hope. The Soviet Union had had such success feeding its people through central state planning that FDR adopted this strategy in the US.

As soon as he entered office in 1933, FDR declared a “banking holiday” to celebrate the bright side of financial disaster. The size of the economy was decreasing, so FDR increased taxes and created numerous state agencies and programs, remembering the age-old wisdom, “You can spend your way to prosperity.” Social Security was just one of many such programs, created to give back to those who had done their duty in providing for their country, and were now selfishly contributing to the high unemployment rate.

It was Keynes who recommended that FDR create Social Security as a means of “reducing unemployment” by paying people to retire. The creation of this program was unconstitutional, but the constitution is a living, breathing document, not to be taken seriously. That is why FDR was so willing to put his trust, our future, and that of our posterity in the hands of the economist who once said, “In the long run, we’re all dead.”

The Great Depression has come and gone, but Roosevelt’s endearing legacy remains today. Before Social Security, people had to save for their own retirement. For this reason, historical records indicate that somewhere around 100 million seniors were living on the streets, eating dog food and dying slow deaths before FDR rescued them. Thanks to his generosity, they can now buy their dog food with a check from Uncle Sam.

Social Security is an intergenerational contract that was created by the beneficiaries. The concept of the non-negotiable, non-consensual contract is a proud American tradition that dates back to the Colonial period. England established numerous taxes upon the colonies to fund a growing war debt. The colonists were so delighted that they decided to have the Boston Tea Party to celebrate.

But then again, the fact is that with demographic and economic shifts over time, the terms of this contract have changed. Unfortunately for FDR’s legacy, people are living longer, healthier lives than they were 60 years ago. This is due in part to Medicare, a government spending program designed to keep the elderly on Social Security for as long as possible.

Our leaders wisely made Social Security revenue part of the general fund rather than a separate trust fund, thereby eliminating any possibility on behalf of Congress to avoid the sort of prodigality that ironically led to their constituents’ current dependency on Social Security. As the ratio of laborers to retirees continues to shift, one fact continues to determine what the fair solution to this problem is; old people vote.

Today, President Bush continues to scare old people into believing that just because Social Security’s expenditures will exceed revenue in 2019, this somehow means the program is in jeopardy. As Social Security’s future remains beyond the term limits of any of our current politicians, it is certain that the Democrats will not let the GOP meddle with what is a prudential and financially secure program. Its judiciousness, dependability and fiscal accountability is the perfect testament to FDR, the president that exemplified these fine qualities.