social reforms of the new deal

Italy surrendered. The CCC was responsible for building many public works projects and created structures and trails in parks across the nation that are still in use today. “What We Do.” Accessed May 9, 2020. Congress passed dozens of programs to stabilize the U.S. financial system. “The Communications Act of 1934, 47 U.S.C. Fed raised rates to defend the gold standard, worsening the depression. The economy contracted 6.4%, unemployment rose to 15.9%, and debt increased by $1 billion. Is Now the Most Miserable Time Since the Great Depression? Under the Trade Agreements 1934. “The New Deal.” Accessed May 9, 2020. decision and execution, public criticism and discussion were never based essentially upon the idea that the crisis could be resolved by Michael Boyle is an experienced financial professional with 9+ years working with Financial Planning, Derivatives, Equities, Fixed Income, Project Management, and Analytics. should represent them in dealing with employers. autarky created by high tariffs. facilities to industry and agriculture. The FDIC insures savings, checking, and other deposit accounts up to $250,000 per account at each bank. New Agricultural Adjustment Act: The law remedied the 1933 AAA. 16 million in 1948. “The Great Depression and New Deal, 1929-1940s.” Accessed May 9, 2020. Photo by Roger Smith / PhotoQuest / Getty Images. likewise provided loans on surplus crops, insurance for wheat, and a It would have at least shortened, if not prevented, World War II. “The Correspondence Files of the Federal Emergency Relief Administration, 1933-1936.” Accessed May 9, 2020. Great progress was made in labor organization. Quote and Meaning, 10 of the Most Influential Presidents of the United States, The Great Depression, World War II, and the 1930s. The New Deal is an economic policy Franklin D. Roosevelt launched to end the Great Depression. more than double what it had been seven years before. system of planned storage to ensure an "ever-normal granary." Most people are familiar with the retirement benefits which can also be extended to the retiree's spouse. , Social Security also pays disability benefits to eligible beneficiaries who become disabled before reaching retirement age. PBS. Consortium News. Farm Tenancy Act: Called the Bankhead-Jones Farm Tenant Act, it created Farmers’ Home Corporation to provide loans for tenant farmers to buy their farms. demands at home for the products of American industry. By this time other policies were fostering Political and Social Reforms During the Progressive Era (1900–1920), the country grappled with the problems caused by industrialization and urbanization. "The Role of the SEC." The economy contracted 1%. Many of the New Deal's programs are still safeguarding your finances today. The new President brought an air of cheerful confidence that 1935, to replace the labor provisions of the defunct NRA, unemployed, for public works, and for the conservation of national Bureau of Labor Statistics. Before long, the complex He immediately launched 15 programs under the First New Deal. Accessed May 9, 2020. It resettled farmers onto better land and taught them modern conservation and farming techniques. Social Security Act - August: This law created the. Because of it, numerous roads, buildings, and other projects were built. New Deal programs softened the extremes of the business cycle. There was a $1 billion surplus. Unemployment was at 3.2%.. FDR spoke about helping the "...millions who never had a chance -- men at starvation wages, women in sweatshops, children at looms.". Progressivism , an urban, middle‐class reform movement, supported the government taking a greater role in addressing such issues as the control of big business and the welfare of the public. Whereas there had been 4 million Government Economy Act - March 20: The Act cut the pay of government and military employees by 15%. Civilian Conservation Corps - April 5: The program hired 3 million workers over nine years to conserve public land. “Rural Electrification Act.” Accessed May 9, 2020. 9620, Title I-Housing Renovation and Modernization.” Accessed May 9, 2020. War spending added $23 billion to debt. The rule forced banks to write down their real estate as values fell. Board of Governors of the Federal Reserve System. no labor party as such emerged. The National Industrial Recovery Act was designed to bring together the interests of working-class Americans and businesses. and assure workers the right to choose the organization that Kimberly Amadeo has 20 years of experience in economic analysis and business strategy. Benefits.Gov. That is more than the federal poverty level for a single person but is lower than the poverty level for a couple. In other words, if someone were trying to support a family by making minimum wage, they would qualify for federal poverty assistance. National Park Service. 1936. The New Deal program for industry went through an It has a section on How to Select a Broker. It provides financial planning tools, such as how much you need to retire.. The New Deal was a far cry from President Herbert Hoover's "...hear-nothing, see-nothing, do-nothing Government," derided by FDR in his 1936 campaign speech.. By 1940, nearly six million farmers were Lower revenues added $3 billion to debt. Accessed May 9, 2020. History Learning Site. However, the NIRA was declared unconstitutional in the landmark Supreme Court case Schechter Poultry Corp. v. the United State. FDR launched the New Deal in three waves from 1933 to 1939. What Happened During the Great Depression? The New Deal was a sweeping package of public works projects, federal regulations, and financial system reforms enacted by the United States federal government in an effort to help the nation survive and recover from the Great Depression of the 1930s. "Emergency Banking Act of 1933." As progress toward recovery continued, the federal into the United States types of reform familiar to Englishmen, In fact, at 40 hours per week for 52 weeks, the minimum wage translates to $15,080 a year. Instead, the Depression worsened. Farm Security Administration: This replaced the Resettlement Administration to provide loans and training for farmers. The Civilian Conservation Corps was created in 1933 by FDR to combat unemployment. 192 73rd Cong. It said government spending could end the Depression by stimulating consumer demand. If FDR and the New Deal had ended the Depression in the early 1930s, the United States could have turned its resources sooner to helping its allies, Great Britain, and France. Accessed May 9, 2020. Some say the New Deal didn't work because the Depression lasted for 10 years. Emergency Relief Appropriation - April 8: The program replaced FERA and funded the new Works Progress Administration with $5 million. The economy grew by 10.8%, and unemployment fell to 21.7%. The Fair Housing Center. stability for the farmer began to seem possible. In 1939, FDR launched the Federal Security Agency. Franklin D. Roosevelt Presidential Library and Museum. The new deal was a plan that Roosevelt and Congress put into action to hopefully overcome the Great Depression. 151et seq, Soil Conservation and Domestic Allotment Act of 1936, Mark-to-Market: The Bogeyman of the 1930s is Back, The Evaluation of the Implementation of Fair Value Accounting: Impact on Financial Reporting, National Income and Product Accounts Tables: Table 1.1.1. The United States entered WWII. The new deal focused on the three general goals: relief, recovery, and reform. 1st Session, The Emergency Railroad Transportation Act of 1933, The Correspondence Files of the Federal Emergency Relief Administration, 1933-1936, Public – No. generally received more union support than the Republican Party, FDR took office. Emergency Farm Mortgage Act - May 12: The act provided loans to save farms from foreclosure. The New Deal played a significant role in countering the Great Depression and revitalizing the U.S. economy. Collin College. The program has become one of the most popular government programs ever and is funded by current wage earners and their employers. What Is Domestic Policy in US Government? “Farm Security Administration (FSA).” Accessed May 9, 2020. which set up a administered; some actually contradicted others. “The Works Progress Administration.” Accessed May 9, 2020. The Concerned about budget deficits, he did not fund it as much as the previous two. Unemployment rose to 19%. holders of farm mortgages. resources. “Wages and the Fair Labor Standards Act.” Accessed May 9, 2020. Soil Conservation & Domestic Allotment Act - February 29:  This program paid farmers to plant soil-building crops, like beans and grasses, to counteract the. Act of June 1934, Secretary Hull negotiated unconditional most- FDR launched the Second New Deal, adding $2 billion to debt. to subsidize the purchase of farms for tenants ", ThoughtCo uses cookies to provide you with a great user experience. movement in commodity prices and to afford some relief to New Deal, domestic program of the administration of U.S. Pres. Abrogation of Gold Payment Clause - June 5: The government no longer had to repay dollars with gold. Unemployment rose to 24.9%. America assisted Great Britain by sending weapons. “The Emergency Railroad Transportation Act of 1933.” Accessed May 9, 2020. The next day's drop of 11.7% and a total decline of 55% between 1929 and 1933 made it the worst stock market decline in the history of the United States. U.S. Securities and Exchange Commission. They point out that defense spending on World War II was the only thing that ended the Depression. Within a year, American particularly in basic industries like automobiles and steel, spurred The New Deal: Relief, Recovery, and Reform. This law also created the National Recovery Administration. Unemployment edged up to 1.9% as soldiers returned home. "Top Picks," Select “Unemployment Rate,” Retrieve Data, ”Select 1929-2020,” Select “Go.” Accessed May 9, 2020. Martin Kelly, M.A., is a history teacher and curriculum developer. Japan surrendered in September, ending WWII. Federal Emergency Relief Act - May 12: This program funded a wide variety of jobs in agriculture, the arts, construction, and education. New governmental agencies brought generous credit The housing crisis created a great many foreclosures, and FDR hoped this new agency would stem the tide. of reforms known as the New Deal was well on its way. Beer-Wine Revenue Act - March 22: It legalized the sale of beer and wine and taxed alcohol sales, raising federal revenue. "New Rules for the New Deal.” Accessed May 9, 2020. favored-nation reciprocity treaties with Canada, Cuba, France, FDR's New Deal policies introduced Keynesian economic theory. During the entire New Deal period, despite its speed in labor board to supervise collective bargaining, administer elections, The New Deal worked. Russia, and some 20 other countries. Res. limiting production and fixing higher prices; but even before the Freedom School. 1939. Democrat or Republican: Which Political Party Has Grown the Economy More? “Mark-to-Market: The Bogeyman of the 1930s is Back.” Accessed May 9, 2020. Emergency Banking Act - March 9: FDR closed all banks as soon as he was inaugurated to stop bank runs. For some joint accounts, the FDIC insures $250,000 per owner. The FDIC also examines and supervises about 5,250 banks, more than half of the total system. The Federal Security Agency, established in 1939, was responsible for oversight of several important government entities. Consider this. U.S. Securities and Exchange Commission, Investor.gov. The Social Security Act of 1935 was designed to combat widespread poverty among senior citizens and to aid the disabled. Benefits.Gov. It was during the New Deal that organized labor made Emergency Railroad Transportation Act - June 16: This piece of legislation attempted to coordinate the national railway systems. “Social Security Divorced Spouse Benefits.” Accessed May 9, 2020. Benefits.Gov. The TVA was and is a federally owned corporation that still works in this region. U.S. Department of Health and Human Services. (CIO). 479 – 73D Congress, H.R. Congress passed the National Labor Relations Acts Unemployment fell to 4.7% while the economy grew 18.9%. with which it accomplished what elsewhere had taken whole to soilconserving crops or otherwise cooperate in long-range Accessed Sept. 11, 2020. Dust Bowl drought ended. framework of the two major parties, and although the Democratic Party It bought 10 million acres of submarginal farmland and paid farmers to convert it to pasture, preserves, or parks. The Social Security program provides a guaranteed income for workers who have paid into the system. Recovery meant that the economy was going to be restarted and reform meant that America would be able to … Gold Reserve Act - January 30: FDR prohibited private gold ownership. 1944. 1942. The Social Security Act evolved from the Townsend Plan, an effort to establish government-funded pensions for the elderly led by Dr. Francis Townsend. on the national economy and a barrier to recovery. It administered Social Security, federal education funding, and food and drug safety. 1929. mass unions broke away and formed the Congress of Industrial markets by “Social Security Child’s Insurance Benefits.” Accessed May 9, 2020. “Joint Resolution to Suspend the Gold Standard and Abrogate the Gold Clause, June 5, 1933, H.J. Mostly enacted during the first term of President Franklin D. Roosevelt between 1933 and 1938, the New Deal was implemented through legislation enacted by Congress and presidential executive orders. The purpose of minimum wage laws is to stop employers from exploiting desperate workers. As the largest New Deal agency, the WPA affected millions of Americans and provided jobs across the nation. Security Administration National Labor Relations Act /Wagner Act - July: This law protected the rights of employees to organize and address working conditions, with or without a union, and created the National Labor Relations Board. The United States spent to build up the military as Europe entered WWII. National Housing Act - June 27: This law established the Federal Housing Administration, which provides federal insurance for mortgages. Agricultural Adjustment Act - May 12: This legislation. If FDR had spent as much on the New Deal in 1933 as he did in the war in 1943, it would have ended the Depression by creating jobs, demand, and economic growth. The Works Progress Administration was created in 1935. generations. The New Deal advocated government spending as a key economic driver boosting consumer demand. The court ruled that the NIRA violated the separation of powers. national reform legislation of the Theodore The transition is seamless from the customer's point of view. This work relief program had the desired effect, providing jobs for many thousands of Americans during the Great Depression. The Home Owners' Loan Corporation was created in 1933 to assist in the refinancing of homes. Five billion dollars was added to the debt. Hoover believed a free market economy would self-correct. “Social Security Parent’s Insurance Benefits.” Accessed May 9, 2020. The amount added tripled to $64 billion in 1943. The stock market crash on Oct. 29, 1929, is infamously known as Black Tuesday, when stocks fell 13.5%. How Are My Deposit Accounts Insured by the FDIC? The Federal Housing Administration is a government agency that FDR established in 1934 to combat the housing crisis of the Great Depression. Civilian Conservation Corps (CCC) The Civilian Conservation Corps was created in … Fearing a budget deficit, he cut spending, only adding $3 billion to debt, despite rolling out the Third New Deal. The SEC regulates stocks, bonds, and mutual funds, making investing safer. Benefits.Gov. Trading partners retaliated, driving world trade down 66%. The economy contracted 8.5%, and unemployment rose to 8.7%. Another $1 billion surplus. The New Deal program for industry went through an experimental phase in the opening years of the Roosevelt Administration. Major federal programs and agencies included the Civilian Conservation Corps (CCC), the Civil Works Administration (CWA), the Farm Security Administration (FSA), the National Industrial Recovery Act of 1933 (NIRA) and the Social Security Administration(SSA). Civil Works Administration - Nov. 9: Created thousands of construction jobs to put people to work. The Tennessee Valley Authority was established in 1933 to develop the economy in the Tennessee Valley region, which had been hit extremely hard by the Great Depression. 1933. government spent thousands of millions of dollars for relief of the “Social Security Special Benefits for Qualified WWII Veterans.” Accessed May 9, 2020. National Industrial Recovery Act - June 16: This labor and consumer law set up the Public Works Administration to create public works jobs, like San Francisco's Golden Gate Bridge and New York City's Triborough Bridge. It is the largest public provider of electricity in the United States. “Essay: The Federal Emergency Relief Administration.” Accessed May 9, 2020. “Ballpark Estimate.” Accessed May 9, 2020. Accessed May 9, 2020. money payments to farmers who would devote part of their land The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939. Americans, battered by 25% unemployment, Dust Bowl droughts, and four waves of bank failures, welcomed the government's rescue. When Roosevelt took the presidential oath, the banking and The flurry of legislative action earned the 88th and 89th Congress the moniker of the “Great Society Congress.” A successful organizing drive by the CIO, This power was exercised largely within the “Franklin D. Roosevelt: Domestic Affairs.” Accessed May 9, 2020. agricultural goals. Bureau of Economic Analysis. No one was concerned about the budget deficit when the world was worried about Hitler's military dominance. National Archives. Department of Economics, Iowa State University. farm tenants. Bonneville Power Administration: Congress created a federal agency that delivered and sold power from the Bonneville Dam, which had been built by the PWA, near Portland Oregon. Soon, prices of agricultural commodities rose, and economic Two prominent actions were the Glass-Steagall Act of 1933, which created the Federal Deposit Insurance Corporation (FDIC), and the creation of the Securities and Exchange Commission (SEC) in 1934 to be a watchdog over the stock market and police dishonest practices. It was declared unconstitutional in 1935. Germany surrendered in May. It was renamed the Works Projects Administration in 1939, and it officially ended in 1943. The government program, one of the few parts of the New Deal still in existence, provides income to retired wage earners and the disabled who have paid into the program throughout their working lives via a payroll deduction. “Social Security Retirement Insurance Benefits.” Accessed May 9, 2020. The economy grew 12.9%, reducing unemployment to 16.9%. They also built private-public partnerships to boost manufacturing. 1930. Following the Supreme Court nullification of the “Invest Wisely: Advice from Your Securities Industry Regulators.” Accessed May 9, 2020. the AFL to competitive action. “Historical Debt Outstanding – Annual 1900-1949.” Accessed May 9, 2020. $5,000 were insured, and severe regulations were imposed upon trend toward abandonment of laissez faire, going back to the FDR campaigned on New Deal promises. In agriculture, far-reaching reforms were instituted. 1935. On March 4, 1933, during the bleakest days of the Great Depression, newly elected President Franklin D. Roosevelt delivered his first inaugural address before 100,000 people on Washington’s Capitol Plaza.“First of all,” he said, “let me assert my firm belief that the only thing we have to fear is fear itself.”He promised that he would act swiftly to face the “dark realities of the moment” and assured Americans that he would “wage a w… "Recession of 1937-38." A special session of Congress passed the bill in seven-and-a-half hours. In 1933 a National Recovery Administration (NRA) “Soil Conservation and Domestic Allotment Act of 1936.” Accessed May 9, 2020. With “Gold Reserve Act of 1934.” Accessed May 9, 2020. The economy grew 17.7%, and unemployment fell to 9.9%. The expenditures added $3 billion to debt. “Securities Act of 1933.” Accessed May 9, 2020. Fraser. Rural Electrification Act - May 20: The law provided loans to farming cooperatives to generate electricity for their rural areas. Truman became president. “History of FCA.” Accessed May 9, 2020. As the Depression wore on, government revenue fell, so Hoover cut spending. 1943. From 1932, the year before the New Deal, to 1941, when the United States entered the war, the debt only grew by around $3 billion a year. In 1942, defense spending added $23 billion to the debt. 1941. Congress passed the Smoot-Hawley tariff to protect jobs. He signed the Smoot-Hawley tariff to protect U.S. industries. He believed business prosperity would trickle down to the average person. Truman dropped a nuclear bomb in August. He is the author of "The Everything American Presidents Book" and "Colonial Life: Government. “National Grasslands Management, A Primer.” Accessed May 9, 2020. U.S. Securities and Exchange Commission. It marked the beginning of the Great Depression. “National Income and Product Accounts Tables: Table 1.1.1. The name refers back to the New Deal, a set of social and economic reforms and public works projects undertaken by President Franklin D. Roosevelt in response to the Great Depression. Unfortunately, Congress hasn't raised the minimum wage enough to pace with inflation. Its focus on high-paying jobs in the construction sector resulted in a much greater expense to the federal government than originally anticipated. Agricultural “On the Road to Ryan and Ruin.” Accessed May 9, 2020. 479 – 73D Congress, H.R. The Effect of Presidential Economic Policy on the Economy, New Deal Summary, Programs, Policies, and Its Success, How the New Deal Could Have Prevented World War II. The Beer-Wine Revenue Act was followed by the passage of the 21st Amendment, which effectively ended Prohibition. Justice Information Sharing. How Have Democratic Presidents Affected the Economy? Res. Others, like Louisiana politician Huey Long, said it didn't do enough for the poor. The minimum wage is the lowest legal wage companies can pay workers. Five thousand banks reopened in the next three days. She writes about the U.S. Economy for The Balance. Fraser. “Our Documents: Franklin Roosevelt’s Address Announcing the Second New Deal, October 31, 1936.” Accessed May 9, 2020. The Green New Deal combines Roosevelt's economic approach with … U.S. Department of Labor. The Most Important Inventions of the Industrial Revolution, Stock Market Dynamics: Before and after Stock Market Crashes, State Capacity and Economic Intervention in the Early New Deal, Financial Crisis and Global Imbalances: Its Labour Market Origins and the Aftermath. Federal Reserve History. United States Housing Act: Also called the Wagner-Steagall Act, it funded state-run public housing projects. was slow to organize the unorganized, and some of the dissatisfied He worked to create numerous federal programs through his New Deal to help those who were suffering the most from the Depression. As of 2019, the U.S. current national minimum wage is $7.25 per hour. The New Deal was a series of large-scale relief programs and reforms FDR implemented to counteract the economic effects of the Great Depression, The New Deal advocated government spending as a key economic driver boosting consumer demand, The New Deal played a significant role in countering the Great Depression and revitalizing the U.S. economy, FDR’s plan revealed just how vital the government’s role is in the management of the nation’s economy. The four most significant are Social Security, the minimum wage, the Securities and Exchange Commission, and the FDIC. The Great Depression, which lasted from 1929 to 1939, was the largest and most significant economic depression to affect both the United States and all Western countries. If that much had been spent in the first year of the New Deal, it would have ended the Depression right there and then. The following are the top 10 programs of the New Deal. The Public Works Administration was a program created to provide economic stimulus and jobs during the Great Depression. Herbert Hoover was the sitting U.S. president when the stock market crash occurred in 1929, but he felt that the government should not take stringent action to deal with heavy losses by investors and the subsequent effects that rippled throughout the economy. craft unionism, It pays children, surviving spouses, and dependent parents of eligible beneficiaries who die or become disabled.  In some cases, it will even pay benefits to divorced spouses., There is also a Supplemental Security Income program that pays benefits to disabled children and adults with limited income. There's also a Special Benefits program for qualified World War II veterans.. quickly rallied the people to his banner. guaranteed to labor the right of collective bargaining, and in July Moreover, the New Deal represented the culmination of a long-range This added $3 billion to debt. Miller Center, University of Virginia. Relief meant that the government was taking immediate action. organized workers in 1929, there were 11 million in 1939 and It outlawed child labor, established a minimum wage of $1.25, and limited the workday to eight hours. receiving federal subsidies under this program. “Civilian Conservation Corps.” Accessed May 9, 2020. The term was taken from Roosevelt’s speech accepting the Democratic … The Green New Deal and How It Boosts the Economy, The Great Depression and New Deal, 1929-1940s, Our Documents: Franklin Roosevelt’s Address Announcing the Second New Deal, October 31, 1936, Essay: The Federal Emergency Relief Administration, Joint Resolution to Suspend the Gold Standard and Abrogate the Gold Clause, June 5, 1933, H.J. Spending was cut, so only $1 billion was added to the debt. The stock market crash in October kicked off the Depression. “Poverty Guidelines.” Accessed May 9, 2020. Resettlement Act - May:  It created the Resettlement Administration that trained farmers and administered farm debt adjustment activities. Percent Change From Preceding Period in Real Gross Domestic Product, Historical Debt Outstanding – Annual 1900-1949, U.S. Business Cycle Expansions and Contractions, Social Security Disability Insurance Benefits, Social Security Retirement Insurance Benefits, Social Security Parent’s Insurance Benefits, Social Security Child’s Insurance Benefits, Social Security Special Benefits for Qualified WWII Veterans, Invest Wisely: Advice from Your Securities Industry Regulators. Indeed, the Great Society legislation enacted by the United States Congress from 1964 to 1967 represented the most extensive legislative agenda undertaken since the Great Depression era New Deal of President Franklin Roosevelt. “Home Owners’ Loan Act of 1933.” Accessed May 9, 2020. In 1934, conservative businessmen criticized the New Deal for being too socialistic. Seeking Alpha. “Public – No. 192 73rd Cong. FDIC. Webref.org. astonishing rapidity the banks were reopened, and a policy of The economy grew 8%, and unemployment fell to 17.2%. Many of the reforms were hastily drawn and weakly Republican Presidents' Impact on the Economy, Protect Yourself from the Next U.S. Economic Crisis. Benefits.Gov. It was enacted at great speed. How President Reagan Ended the 1980s Recession, Why the 2020 Recession Won’t Become a Depression. Fair Labor Standards Act: This labor law established. recovery, and the administration soon took the position that The minimum wage should provide enough income to afford a living wage. “How Are My Deposit Accounts Insured by the FDIC?” Accessed May 9, 2020. experimental phase in the opening years of the Roosevelt Administration. Securities Exchange Act – The law created the Securities and Exchange Commission, which regulates stocks and the stock market. It cut government spending by 25%. 1937. Organizations Roosevelt Forward. U.S. Securities and Exchange Commission. This added $3 billion to debt. These focused on providing more services for the poor, the unemployed, and farmers. “Historical Tables,” Download Table 1.1 - Summary of Receipts, Outlays, and Surpluses or Deficits: 1789-2021. reciprocity agreements designed to break down the economic "Historical Timeline." trade had improved materially, and by 1939 farm income was Treasury Direct. Benefits.Gov. National Park Service. FDR's new rule allowed them to keep these assets on their books at historical prices.. It ended in 1941. Before the New Deal (1797-1932), there were 33 major economic downturns, 22 recessions, four depressions, and seven bank runs and panics. They impacted 60 of the 132 years covered. The Depression's misery helped propel the German people to put the Nazis and Hitler in power. Federal Housing Administration / Library of Congress / Corbis / VCG via Getty Images. National Bureau of Economic Research. Five billion dollars was added to the debt. Congress abolished it in 1953. Federal Deposit Insurance. “National Labor Relations Act.” Accessed May 9, 2020. Internet Archive Wayback Machine. 1940. After FDR cut government spending in 1937, the economy contracted 3.3%. Gross domestic product growth was 17%, and unemployment fell to 1.9%. T… Section 7 (a) of the National Recovery Administration Act had Roosevelt was inaugurated on March 4, 1933. This Act allowed banks to reopen once examiners found them to be financially secure. Federal Communications Act – The Act consolidated all federal regulation of telephone, telegraph, and radio communications under the Federal Communications Commission. The Green New Deal (GND) is a proposed package of United States legislation that aims to address climate change and economic inequality.

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