Deficit Spending To "share The Wealth"

Front 1

Deficit SPending

Back 1

proposed by John Maynard Keynes and said that governments cut taxes and increase spending in order to stimulate investment and consumption. The effect increased the deficit because more money was spent than was taken in

Front 2

Hoovervilles

Back 2

The shanty towns that the unemployed built in the cities during the early years of the depression (Blamed Hoover)

Front 3

Deflation

Back 3

A reduction in available currency and credit that resulted in a decrease in the general prince level

Front 4

Lost Generation

Back 4

Term coined by Gerald Stein to describe American expatriate writers of the 1920s; Included T.S. Elliot, F.Scott fitzgerald, Ernest Hemingway, and Stein himself

Front 5

Recession

Back 5

Means a moderate and temporary decline in the economy

Front 6

Roaring Twenties

Back 6

popular image of the decade as a period of prosperity, optimism, and changing morals; flappers

Front 7

Sick Chicken Case

Back 7

where Schechter poultry v. U.S.,the Supreme Court struck down the National Industrial Recovery Act as unconstitutional. The decision encourage Roosevelt to consider ways to change the make-up of the court

Front 8

Subsidy

Back 8

A moderate and temporary decline in the economy

Front 9

Welfare State

Back 9

A Social System whereby the state assumes primary responsibiitly for economic and social well-being of its citizens

Front 10

"Return to Normalcy"

Back 10

Campaign theme of Warren Harding during the election of 1920; Reflected the conservative mood of the country after the constant appeals to idealism that characterizied both the Progressive Era and Wilson's fight over the League of Nations

Front 11

"Share the Wealth"

Back 11

program of Huey Long that proposed the redistribution of income of the rich to give every American a guaranteed annual income of $2,000 - $3,000, old age pensions, money for a college education, and veterans benefits