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Reaganomics/ New Deal

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Submitted By kevinwest0602
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Who Benefited From The New Deal?

The New Deal was constructed to combat the issues from the Great Depression. The Great Depression left too many people starving, jobless, and homeless, so Franklin D. Roosevelt swooped in to begin the healing. Twelve major laws were created and passed in the first hundred days of FDR’s presidency. Laws to stabilize private banking systems, establish farm recovery, refinance farm mortgages, create local employment offices and establish a national relief system just to name a few (Goldfield, et al., p. 699). This brought hope to the people, who had tirelessly wanted there way of living to get better.

FDR’s first mission was to fix the banking issues by lending government assistance to stable and needy banks. The Federal Deposit Insurance Corporation (FDIC) was developed by Congress, which guaranteed bank deposits up to 2, 500 (Goldfield, et al., p. 698). In addition, FDR and Congress constructed the Securities and Exchange Commission created to regulate the stock market,” and the “Glass- Steagall Act that separated investment and commercial banking to curtail risky speculation was passed” (Goldfield, et al., p. 699).

The New Deal key goal was to revamp the job market. One of the New Deals most vital players, Harry Hopkins directed and endorsed the Federal Emergency Relief Administration. FERA furnished funds to state and local agencies, spending over $3 billion before ending in 1935 (Goldfield, et al., p. 699). $billion dollars was spend through the Civil Works Administration, which accomplished 4 million jobs for both men women (Goldfield, et al., p. 699). 1933 to 1939 Public Works Administration contributed billions on building schools, hospitals, courthouses, dams, and bridges (Goldfield, et al., p. 699). 2.5 million Young men were employed to work on “reforestation and flood-control projects, build roads and

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