The American economy was suffering from the effects of the Wall Street Crash and the onset of the Great Depression when Franklin D. Roosevelt (FDR) became President of the United States in 1933. The Roosevelt administration’s primary response to the Great Depression was to implement the First New Deal program in 1933. The First New Deal was championed by Roosevelt as being based on the “3 R’s” which related to the Recovery of the economy, Relief from the effects of the Great Depression and the Reform of the banking and financial sectors to prevent a further instance of economic meltdown in the United States. In order to achieve these three main goals the Roosevelt administration implemented the series of measures called the First New Deal
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The Second New Deal was different to the First New Deal in that it sought to implement several liberal, and sometimes controversial, social reforms. The most important element of the Second New Deal was the passage of the Social Security Act which was the first national welfare system to be implemented in the United States. This act established a system of pensions, welfare benefits and unemployment insurance for all Americans which remains in place to this day. In addition to passing this legislation relating to the recovery of society, the Second New Deal also saw the passage of the National Labor Relations Act, or Wagner Act which provided labor and union rights to workers in the United States for the first time. Furthermore, the PWA was replaced by the Works Progress Administration as unemployment relief was nationalized under the Second New Deal.
Therefore, in conclusion the long-range impact of the New Deal was significant because through the measures that were implemented, the American economy recovered by the end of the 1930’s. The New Deal reduced unemployment through the creation of public works policies while the financial reforms made sure that no repeats of the stock market crash on Wall Street in 1929 were repeated. In addition the New Deal also saw the creation of a welfare system for American society
The Second New Deal was different to the First New Deal in that it sought to implement several liberal, and sometimes controversial, social reforms. The most important element of the Second New Deal was the passage of the Social Security Act which was the first national welfare system to be implemented in the United States. This act established a system of pensions, welfare benefits and unemployment insurance for all Americans which remains in place to this day. In addition to passing this legislation relating to the recovery of society, the Second New Deal also saw the passage of the National Labor Relations Act, or Wagner Act which provided labor and union rights to workers in the United States for the first time. Furthermore, the PWA was replaced by the Works Progress Administration as unemployment relief was nationalized under the Second New Deal.
Therefore, in conclusion the long-range impact of the New Deal was significant because through the measures that were implemented, the American economy recovered by the end of the 1930’s. The New Deal reduced unemployment through the creation of public works policies while the financial reforms made sure that no repeats of the stock market crash on Wall Street in 1929 were repeated. In addition the New Deal also saw the creation of a welfare system for American society