the new deal

     

The New Deal was the title that Presient Franklin Delano Roosevelt gave to a sequence of programs and promises he initiated between 1933 and 1938 with the goal of giving relief to the needy, reform of the financial system, and recovery of the economy of the United States during the Great Depression. The "First New Deal" of 1933 aimed at short-term recovery programs for all groups in society. Based on the assumption that the power of the federal government was needed to get the country out of depression, the first days of Roosevelt's administration saw the passage of banking reform laws, emergency relief programs, work relief programs, and agricultural programs. A "Second New Deal" (1935–36) was a more radical redistribution of power; it included union protection programs, the Social Security Act, and programs to aid tenant farmers and migrant workers. The Supreme Court ruled several programs unconstitutional (some parts of them were however soon replaced, with the exception of the National Recovery Administration). Nevertheless, there are several New Deal programs remaining in operation, some of which still exist under their original names, including the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System and Securities and Exchange Commission (SEC)—the primary regulator of publicly traded U.S. firms.

Trivia about the new deal

  • In 1936 Republicans said, "Let's get another deck" in response to this program