Franklin Roosevelt News
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President Barack Obama’s proposal to wean the Tennessee Valley Authority from the U.S. government faces the same obstacles that have frustrated privatization advocates since President Dwight Eisenhower termed the state- controlled power company “creeping socialism” in the 1950s.
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President Barack Obama says Social Security and Medicare fulfill “the guarantee of a secure retirement,” providing Americans benefits they have earned through a working lifetime of contributions.
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It seems like an idea all Republicans would love: the U.S. sells the largest federally owned power company, paying down debt and ending a project begun at the height of the New Deal’s government expansion.
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President Barack Obama’s suggestion that the U.S. sell the Tennessee Valley Authority reveals a utility with a higher debt burden than any domestic peer except Calpine Corp. and the former TXU Corp.
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President Barack Obama is considering the sale of all or part of the Tennessee Valley Authority, the largest publicly owned U.S. power company, in a deal that may raise as much as $35 billion as the administration seeks to reduce the national debt.
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Bonds of the Tennessee Valley Authority dropped after President Barack Obama called for the possible sale of the largest U.S. government-owned power utility.
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David Stockman’s warning that the Federal Reserve’s quantitative easing is steering the world’s largest economy toward a crash is at odds with nine quarters of job growth, record stock prices and unprecedented corporate earnings, former fiscal and monetary policy makers said.
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The American public that elected Franklin Roosevelt president was ready for strong measures. On Inauguration Day 1933, a quarter of the work force was unemployed. According to a contemporary report in the New York Times, “Nobody is much disturbed by the idea of dictatorship.”
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The federal holiday that President Franklin Roosevelt declared for American banks in March 1933 may hold lessons for the euro area of 2013 amid the banking crisis in Cyprus.
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On March 4, 1933, Franklin D. Roosevelt became president for the first time, promising an “adequate but sound” currency. The next day, a Sunday, he closed the nation’s banks. “We are now off the gold standard,” he privately declared to a group of advisers. Goldbugs in the president’s circle immediately began prophesying doom. One of his aides, Lewis Douglas, proclaimed “the end of Western civilization.”
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