The New Deal was a series of reforms initiated by President Franklin Delano Roosevelt from 1933 to 1938 in response to the Great Depression. It provided relief, recovery, and reform, including job creation, financial reform, and social programs. The New Deal impacted American society and attitudes and created long-lasting programs such as Social Security, FDIC, SEC, FHA, and NLRA.
The New Deal was a series of social, economic, and governmental reforms initiated from 1933 to 1938 by the administration of US President Franklin Delano Roosevelt in response to the Great Depression. At the time, Roosevelt’s reforms were met with criticism from some quarters and praise from others; in retrospect, the New Deal was a major event in American history. The legacy of Roosevelt’s programs can be seen in every state, and it is clear that the New Deal helped shape American society and American attitudes.
Stock market crash
In 1929, the US stock market crashed catastrophically, triggering a domino effect throughout the US economy that led to the Great Depression. In addition to its economic struggles, the United States was facing major problems in the agricultural sector as it became clear that land use policies were not sustainable. Many Americans suddenly found themselves extremely poor, which triggered social unrest in the already troubled nation.
Relief, Recovery and Reform
Roosevelt felt the country needed three things: relief, recovery, and reform. The New Deal focused on providing relief to America’s unemployed and troubled manufacturing sector, while promoting economic recovery and reforming the US financial system to prevent a repeat of the depression. Roosevelt promoted many pieces of legislation and policies that have collectively come to be known as the New Deal, a reference to a statement he made in his inauguration address.
Job creation
Relief was provided through social programs that created jobs for many Americans. The Tennessee Valley Authority (TVA) has employed thousands of people to build dams to produce electricity. New Deal work crews helped build state park facilities, build homes, pave roads, and build public facilities, among many other things. The New Deal also established the Social Security program and promoted union membership and sustainable agricultural policies.
Financial reform
America’s financial systems were also reformed, and the Emergency Banking Bill of 1933 helped stabilize a struggling banking system. Roosevelt pushed for a federal budget that was balanced except for emergency spending needed to weather the depression, as well as greater financial accountability and other policies that promoted health and economic growth. He also encouraged involvement in World War II, which helped revitalize the US economy. Additionally, the New Deal impacted the arts because it established funding for artists under the Works Progress Administration (WPA). Many enduring artistic expressions of the Great Depression were produced by WPA-backed artists.
Long-lasting programs
Many programs created by Roosevelt have remained in place into the 21st century. Some still had the same names, others had evolved and operated under new names. Among the programs still in place in the early 21st century were the Social Security program, the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC), the Federal Housing Administration (FHA), and the National Labor Relations Act (NLRA).
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