Assess the significance of the New Deal in the 1930s Franklin Delano Roosevelts New Deal held promises to better the livelihood of the American people after the Great Depression hit the United States in the 1920’s. His efforts undeniably rebuilt America from the devastating tragedy that destroyed the US stock market by introducing a number of federal agencies. These agencies played a key role in the recovery of America. Despite this, there were doubts that the New Deal was actually targeted to aid the lives of all American people, or just the chosen few; whites and upper class citizens. The first step in Roosevelts New Deal was the recovery of the economy. The Emergency Banking Act (EBA) was one of the first acts passed and was set up
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The act was financially beneficial for the country but improved the lives of citizens. It was passed on April 19th 1935 because millions of people were out of work, and there was an increasing amount of concern for the elderly and retired Americans who had lost their life savings. Roosevelt hoped that the act could prevent the elderly from ending up impoverished. Following the Great Depression, many senior citizens were literally penniless and dependent on family or friends for support. As for those who were not fortunate enough have this support, most were too old and did not have the necessary skills for a job. Others, would unfortunately die from starvation. The relief agencies that existed then only assisted people who had fallen on difficult times were financed mainly from local funds, leaving the elderly with no support. The Social Security program was intended to be, and still is today, a social insurance program. It is a government-run program that provided economic security and general health care coverage to citizens. Individuals making Social Security private accounts can allow them to invest in their accounts which would, in turn raise economic growth by adding money back into America’s disastrous financial system. The system at present, will work by increasing taxes while raising the retirement age, which made the act and the New Deal extremely
The act was financially beneficial for the country but improved the lives of citizens. It was passed on April 19th 1935 because millions of people were out of work, and there was an increasing amount of concern for the elderly and retired Americans who had lost their life savings. Roosevelt hoped that the act could prevent the elderly from ending up impoverished. Following the Great Depression, many senior citizens were literally penniless and dependent on family or friends for support. As for those who were not fortunate enough have this support, most were too old and did not have the necessary skills for a job. Others, would unfortunately die from starvation. The relief agencies that existed then only assisted people who had fallen on difficult times were financed mainly from local funds, leaving the elderly with no support. The Social Security program was intended to be, and still is today, a social insurance program. It is a government-run program that provided economic security and general health care coverage to citizens. Individuals making Social Security private accounts can allow them to invest in their accounts which would, in turn raise economic growth by adding money back into America’s disastrous financial system. The system at present, will work by increasing taxes while raising the retirement age, which made the act and the New Deal extremely