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...velt would close all the banks to enact the Emergency Banking Act, an act that would only reopen bank that were financially sound, while also including federal loans if needed. This assured many people, but did not assist in the depression significantly. Later on in the New deal’s life span, FDR created laws and policies that assisted in lowering the unemployment rate. one of these would be known as the Public Work Administration, or the PWA. This administration created 34,599 government projects, and thus creating government jobs for the nation to enjoy. Over three billion dollars were soaked up by the PWA and successful in somewhat lowering the unemployment rate. Although the New Deal had implemented government spending, the employment rate would not reach full employment, suggesting that Roosevelt did not spend enough money in order to follow the Keynesian cross.
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