How Did The New Deal Strengthen Or Weaken The Usa Capitalism

In the early 1930s, the United States was in a very bad social and economic state. This period, known as the Great Depression, was a period of poverty, job loss, and a loss of trust in the government and Wall Street. Such a great economic collapse had never been seen by Americans. Many political and social leaders were at a complete loss as for what to do. However, one man- newly elected President Franklin Delano Roosevelt- had an answer. His answer, which resulted from a one hundred day long session of Congress, was called the New Deal. This New Deal developed many new government programs to help make jobs and decrease poverty. Many of these programs, like Social Security, the TVA, and the AAA. The first, Social Security, was made possible by the Social Security Act, which was passed in 1935. This law would would grant payments to retired US citizens over the age of 65 ranging from $10 to $85. The money for the program would be received through a payroll tax to both employers and employees. The money from the program also went to other people who were physically unable to work. This program was loosely based off of those in Europe, with less people qualifying for the program. However, by 1939 over 45 million people were eligible for Social Security benefits. This was obviously a very controversial law. Republicans, especially former President Herbert Hoover, completely disagreed with the law. Said …show more content…
Many other acts were passed and administrations were established. Socialism had never at all been considered in a United States whose economy was centered around capitalism. However, the New Deal changed that quickly. This was the biggest revolution in the United States since all the laws that were passed during Reconstruction from the Civil War. In conclusion, only one word comes up when asked how revolutionary was the new deal: