Essay On The New Deal

FDR’S New Deal The New Deal was a group of programs created by President Franklin Roosevelt. The programs were created due to the Great Depression and the economy not being stable. The New Deal focused on what was called the 3 Rs; relief, recovery, and reform. Relief for the poor and people without jobs, recovery to get the economy back to normal, and reform to keep another depression from happening. The New Deal was broke into two groups, the First New Deal and the Second New Deal. The First New Deal covered the banking crisis through the Emergency Banking Act, the Banking Act of 1933, and the Securities Act of 1933. The Second New Deal includes the Social Security Act, the Farm Security Administration, and the Fair Labor Standard Act. Many of the programs created still exist today, although they have been modified over the years. The Social Security Act was created in 1935 and provided help to the elderly and handicapped. It was used to prevent “dangers” such as old age, poverty, unemployment, and burdens on widows and their children. The act gave benefits to retirees and the unemployed and a single payment benefit at death. The act also gave money to states to help the elderly, for unemployment …show more content…
It provides insurance to bank accounts in the event of a bank failure. It was created after the collapse of banks during the Great Depression. States attempted to insure deposits but none of the attempts worked. The FDIC was supposed to be a temporary attempt to keep the banks stable, but bank failures declined and the confidence was put back into the banking system. The Banking Act of 1935 made the FDIC a permanent entity. The starting amount of insurance was $2500 in 1934 and since then the amount has climbed all the way up to $250,000 for each insured account. Since then, the FDIC says that no depositor has lost any insured money as a result of failure from the