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					“The only thing we have to fear is
           fear itself.”
  FDR’s
Response
 to Great
Depression
1. “try something”
2. Spend government money
2. “Brain Trust” for advice
3. focus on 3 Rs:
    relief (direct aid, like jobs)
    recovery (supports/ help industries)
    reform (new laws to fix problems)
          Bank Holiday - First Step
                                            •Many banks had
                                            failed, wiping out
                                            families’ savings
                                            •People lost confidence
                                            in the banks
                                            •Banks closed March 6,
                                            1933
                                            •FDR asked Congress to
                                            pass Emergency
                                            Banking Actonly
Depositors Congregate Outside Closed Bank
                                            financially sound banks
                                            could reopen
                                    4
                 Next Steps
Hundred Days
       • In the first 100 days of his
         administration Roosevelt asked
         Congress to pass tons of legislation

Alphabet Soup
      •The agencies created had
      acronyms like AAA, CCC, TVA,
      FERA, FDIC
                        5
FDR announces his “New Deal”
1. Civilian Conservation Corps.
              (CCC)
• jobs for young men; conserved
   natural resources
Digging Ditches in Montana
                             Illinois CCC advertisement
Pillow created to honor the CCC
      2. Federal Emergency &
       Relief Administration
              (FERA):
• direct relief ($, clothes) to people


                                FERA distributes clothing
                                in Tennessee
         3. Works Progress
        Administration (WPA):
• gave jobs building public buildings and roads
• also hired artists & writers



WPA workers creating a flood
Control dike in Arkansas
WPA advertisement to aid women
WPA helped artists,
like Diego, create
murals and continue
his or her craft
1. Tennessee Valley Authority
           (TVA):
• helped the valley by controlling floods and
  providing electricity
TVA workers working on a dam control building
      2. National Recovery
      Administration (NRA):
• set industry codes for production, wages,
  prices & working conditions
  3. Agricultural Adjustment
          Act (AAA)
• farmers paid subsidies to NOT grow crops



Texas farmers
receive AAA
check
            4. Public Works
          Administration (PWA)

•Provided jobs and
stimulated business
activity by contracting with
private firms to construct
roads, public buildings
and other public-works
projects
 1. Federal Deposit Insurance
         Corp. (FDIC)
• insured savings accounts in gov’t approved
  banks




       Logo banks display today for
       FDIC today
2. Social Security Act (SSA)
           for retired workers,
  • pensions
  unemployment insurance, death
  benefits
                                  FDR signs SSA
   3. National Labor Relations
          Board (NLRB)
• Lasting reforms:
   – Minimum wage-$.25/hour
   – Maximum hours=40hours per week
   – Collective bargaining for unions
   – Regulation of interstate commerce
        4. Securities & Exchange
            Commission (SEC)
• Regulate & monitor
  stock market activity
• Investigate fraud &
  insider trading
 Supporters of the New Deal:
Supporters said FDR…
1. stretched Constitution to fit needs of time
2. offered immediate help to needy
3. fixed problems that led to depression
4. increased optimism
  Critics of the New Deal:
Critics said FDR…
  1. seen as “socialistic”
  2. “Unconstitutional”
  3. against American self-reliance
  4. Called FDR a “dictator”
  5. Deficit spending
          Government Expenditures
• The total cost of the recent bailout now exceeds $4.6 trillion dollars.
  It has cost more than all of these government expenditures
  combined. Figures in parentheses have been adjusted for inflation:
       • Marshall Plan: Cost: $12.7 billion ($115.3 billion)
       • Louisiana Purchase: Cost: $15 million ($217 billion)
       • Race to the Moon: Cost: $36.4 billion ($237 billion)
       • Korean War: Cost: $54 billion ($454 billion)
       • The New Deal: Cost: $32 billion est.($500 billion est.)
       • Invasion of Iraq: Cost: $551billion ($597 billion)
       • Vietnam War: Cost: $111 billion ($698 billion)
       • NASA: Cost: $416.7 billion ($851.2 billion)
       • TOTAL: $3.92 trillion

				
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posted:12/21/2011
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