Although times were tough while Roosevelt was President, one of the most recent polls ranks Roosevelt and Lincoln as the greatest presidents in the history of the United States. The question still remains unanswered of what broke the Great Depression. If Roosevelt’s policies and programs of the New Deal did not break the Depression, then what did? Several historians argue that the entry into World War II was critical while others believe that large-scale spending was the solution. Burton W. Folsom Jr. believes that the poor performance of the U.S. economy was one of the key ingredients. Tax policy and special-interest spe...
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...eaders and Roosevelt received much of the credit. One of the biggest examples of a policy that helped prevent another depression was the creation of the Federal Deposit Insurance Corporation, or FDIC. This policy prevents investors from running to the bank at the first sign of a collapse and taking their money out, ultimately causing the collapse to occur quicker. The current rate of protection is around $250,000 per account. This means that if you have $150,000 in the bank and that particular branch fails, the government will reimburse you with your $150,000. This makes it much easier and safer for investors to put their money into banks and help boost the economy. The New Deal may have potentially prolonged the Great Depression; however, I believe it was for the better and I think the policies implemented have helped our nation steer away from future depressions.
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