How Did The New Deal Affect The Economy

explanatory Essay
804 words
804 words

America’s New Deals
At the height of the Great Depression newly elected President Franklin Roosevelt coined the term “New Deal”. America had been in the depression for three years since the 1929 stock market crash. Unemployment and poverty were at an all-time high and the American public looked to the federal government for support. President Roosevelt gave America what it needed, even with flaws the “New Deal” was created to reform and reenergize the economy, allowing America to pull itself out of the Great Depression.
President Roosevelt was elected in November 1932 but did not take office until March 1933. This gave him time to prepare for his historic first Hundred Days. During this time President Roosevelt drafted many new initiatives which would collectively develop into the New Deal and shape his presidency and legacy. Some of the most notable acts that he submitted were, the Emergency Banking Act, Federal Emergency Relief Act, and the National Industrial Recovery Act.
The first act as President came in the form of the Emergency Banking Act, which …show more content…

It did not quite get America out of the depression that it faced for almost a decade, however, it was a drastic step in the right direction. The one true downfall of the New Deal was the fact that multiple acts of the New Deal were found unconstitutional and were disbanded. This did not deter President Roosevelt from making continued progress reestablishing a strong economy. It also did not stop the American public from reelecting President Roosevelt and allowing him to bring America out of the depression. After the reelection, President Roosevelt and his administration started drafting the Second New Deal to improve where he had fallen short and to fix those acts that were unconstitutional. The Second New Deal established reforms such as the Wagner Act and brought about the largest and most recognizable act, the Social Security

In this essay, the author

  • Explains franklin roosevelt coined the term "new deal" at the height of the great depression. roosevelt gave america what it needed, even with flaws.
  • Explains that president roosevelt was elected in november 1932 but did not take office until march 1933. he drafted many new initiatives which would collectively develop into the new deal and shape his presidency and legacy.
  • Explains that the first act as president came in the form of the emergency banking act, which swiftly passed through congress. the act was created to temporarily close all banks and stop them from closing permanently.
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