Shopping, everyone does it, but in the 1920s people loved it a little too much. The Great depression caused poverty and hopelessness through the US and the cause for this is hotly debated. The First New Deal helped aid people during the depression by providing relief and reform through acts that put millions to work, increased government involvement, and created benefits for citizens and employers. Things taken for granted today would not have been possible without the First New Deals spark of change.
One of the most impactful things that the first new deal accomplished was putting millions to work. Administrations like the WPA was the largest and most diverse of the New Deal programs. This administration, ¨put 8.5 million people back to work …show more content…
FDR's New Deal created the FDIC, which insured peoples bank deposits and further prevented bank runs and assured people that they would get their money back if a bank were to close. Banks closures were a huge problem during the Great Depression, ¨before the FDIC between 1930 and 1933, for example, Americans lost $1.3 billion from 9,000 bank failures¨(First New Deal Reading). With this type of government regulation, prevention of bank runs and closing troubled banks would only better the economy. Furthermore, The Revenue Act of 1935 raised taxes on the rich to help provided relief for the poor. One document wrote, ¨32% of people made the poverty line 2,000-5,000 yearly¨(document 5). Not only did most of the population made little money, the money they had was spent on basic necessities. Without disposable money business shut down and prices rose. During this time, the middle class barely existed and the only people with money were the ultra rich; thankfully government involvement prevented this from happening any more. By putting money into governments hands, this would ensure a positive impact on the
One of the most impactful things that the first new deal accomplished was putting millions to work. Administrations like the WPA was the largest and most diverse of the New Deal programs. This administration, ¨put 8.5 million people back to work …show more content…
FDR's New Deal created the FDIC, which insured peoples bank deposits and further prevented bank runs and assured people that they would get their money back if a bank were to close. Banks closures were a huge problem during the Great Depression, ¨before the FDIC between 1930 and 1933, for example, Americans lost $1.3 billion from 9,000 bank failures¨(First New Deal Reading). With this type of government regulation, prevention of bank runs and closing troubled banks would only better the economy. Furthermore, The Revenue Act of 1935 raised taxes on the rich to help provided relief for the poor. One document wrote, ¨32% of people made the poverty line 2,000-5,000 yearly¨(document 5). Not only did most of the population made little money, the money they had was spent on basic necessities. Without disposable money business shut down and prices rose. During this time, the middle class barely existed and the only people with money were the ultra rich; thankfully government involvement prevented this from happening any more. By putting money into governments hands, this would ensure a positive impact on the