The New Deal. Samantha Archer. Pols 1101: American Government.
1359 Words6 Pages
The New Deal
POLS 1101: American Government
January 22, 2017
Dr. Andrea M. Peterson The New Deal
In October of 1929 the stock market crashes, marking the beginning of the Great Depression. By 1930 unemployment grows from almost 4 million in January to 7 million in December. During this time President Herbert Hoover appoints the President’s Emergency Committee for Employment to stimulate state and local relief but no funding for relief was provided by the committee. In July of 1932, in the midst of the greatest economic crisis in U.S. history, Franklin D. Roosevelt accepted the Democratic Party’s presidential nomination, promising “a new deal for the American people.” That promise became a series of relief,…show more content… During the depression, approximately 50% of senior citizens lived in poverty. Like many Americans appalled at the sight of fellow citizens living their final years in poverty after a lifetime of hard work, FDR believed that a nation as prosperous and advanced as the U.S. should not allow retired citizens to suffer poverty. It protects citizens from poverty during retirement, and provides temporary relief for involuntary unemployed Americans and families seeking new jobs- a program known as Unemployment Insurance. The funds for Social Security are collected from every paycheck-worker and employers split the tax contributions that the government collects. After age 62, citizens receive a monthly pension check back from the government.
Another reform program that was started was the TVA (Tennessee Valley Authority). Of all of the reform programs proposed by the Roosevelt administration, the TVA was by far the most ambitious. Created in 1933 for the purpose of developing the Tennessee River watershed, this comprehensive federal agency revitalized the region by building 16 dams to control flooding generate hydraulic power, and increase agricultural production. This agency also provided jobs, low-cost housing, reforestation, and many other conservation-related services to the region.
Recovery was planned to help the economy bounce back from depression. For example, The National Industrial Recovery Act. The 1933 National Industrial Recovery