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President Hoover Failure

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The Great Depression was an abrupt decline in the supply and demand of goods and services along with a meteoric rise in unemployment. President Herbert Hoover thought there should not be too much government intervention and the crisis would balance itself out after a while, but that was not the case. His attempts to aid the Great Depression were not as successful as hoped and did not gain him much popularity while he ran again for a second term as president. In 1932, Franklin Roosevelt won the presidential election by a landslide against President Hoover. President Roosevelt created policies and programs that later collectively became known as the New Deal.
It started in the 1920s when the United States stock market went through rapid expansion …show more content…

Although, they increased public work projects to tackle poverty and unemployment. This was a response to Hoovervilles populating most of the country after the stock market crash. President Hoover also proposed programs that resemble the programs in President Roosevelt’s New Deal. In 1931, President Hoover proposed the Reconstruction Finance Corporation, a Home Loan Bank, a Public Works Administration, more aid to Federal Land Banks, and direct loans to state governments for spending on relief for the unemployed.
President Roosevelt promised action. His plan of action started with the Hundred Day initiative, where they planned to quickly put in place measures to fight the Depression. It began with all banks being temporarily closed until Congress passed a reform legislation called the Emergency Banking Relief Act, which reorganized the banks and closed the ones that were bankrupt. This brought improvement to business and agriculture, aid to the unemployed, and relief to those in danger of losing farms and homes. Many other policies and programs followed and became known as the New …show more content…

It oversaw the construction of large-scale public works like San Francisco's Golden Gate Bridge and New York City's Triborough Bridge. They hoped it would stimulate the economy by creating jobs and by generating orders for materials that American industry produced. The PWA accomplished the task at hand, but they did not spend all the money available to them and therefore, it was not as productive as it could have been. Social Security Act (SSA) provided pensions, unemployment insurance, and aid to the disabled. It financed its programs through deductions from workers' paychecks, but in reality, slowed economic growth by restraining consumer purchasing power. The programs and benefits of the Social Security Act were not distributed evenly among all Americans and since many of these Social Security programs were run by state governments, the size of benefits varied widely. Overall, the WPA failed to lift the country out of its economic

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