A Promised Land

by Barack Obama

I wanted people to understand that there was a precedent for bold government action. FDR had saved capitalism from itself, laying the foundation for a post–World War II boom. I often talked about how strong labor laws had helped build a thriving middle class and a thriving domestic market, and how—by driving out unsafe products and fraudulent schemes—consumer protection laws had actually helped legitimate businesses prosper and grow. I explained how strong public schools and state universities and a GI Bill had unleashed the potential of generations of Americans and driven upward mobility. Programs like Social Security and Medicare had given those same Americans a measure of stability in their golden years, and government investments like those in the Tennessee Valley Authority and the interstate highway system had boosted productivity and provided the platform for countless entrepreneurs. I was convinced we could adapt these strategies to current times. Beyond any specific policy, I wanted to restore in the minds of the American people the crucial role that government had always played in expanding opportunity, fostering competition and fair dealing, and making sure the marketplace worked for everybody.