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Tuesday, September 13, 2011

Franklin D. Roosevelt & Obama On JOBS, Taxes & Social Security: "The New Deal" (Videos)












New Deal

The New Deal was a series of economic programs implemented in the United States between 1933 and 1936. They were passed by the U.S. Congress during the first term of President Franklin D. Roosevelt. The programs were responses to the Great Depression, and focused on what historians call the "3 Rs": Relief, Recovery, and Reform. That is, Relief for the unemployed and poor; Recovery of the economy to normal levels; and Reform of the financial system to prevent a repeat depression. The New Deal produced a political realignment, making the Democratic Party the majority (as well as the party which held the White House for seven out of nine Presidential terms from 1933 to 1969), with its base in liberal ideas, big city machines, and newly empowered labor unions, ethnic minorities, and the white South. The Republicans were split, either opposing the entire New Deal as an enemy of business and growth, or accepting some of it and promising to make it more efficient. The realignment crystallized into the New Deal Coalition that dominated most American elections into the 1960s, while the opposition Conservative Coalition largely controlled Congress from 1938 to 1964.

Historians distinguish a "First New Deal" (1933) and a "Second New Deal" (1934–36). Some programs were declared unconstitutional, and others were repealed during World War II. The "First New Deal" (1933) dealt with diverse groups, from banking and railroads to industry and farming, all of which demanded help for economic recovery. A "Second New Deal" in 1934–36 included the Wagner Act to promote labor unions, the Works Progress Administration (WPA) relief program, the Social Security Act, and new programs to aid tenant farmers and migrant workers. The final major items of New Deal legislation were the creation of the United States Housing Authority and Farm Security Administration, both in 1937, then the Fair Labor Standards Act of 1938, which set maximum hours and minimum wages for most categories of workers[1] and the Agricultural Adjustment Act of 1938.

Despite Roosevelt campaigning heavily against anti-New Deal Republicans and anti-New Deal Democrats, Republicans gained many seats in Congress in the 1938 midterm elections and the Democrats opponents of the New Deal retained their seats, resulting in the WPA, CCC and other relief programs being shut down during World War II by the Conservative Coalition (i.e., the opponents of the New Deal in Congress); they argued the return of full employment made them superfluous. As a Republican President in the 1950s, Dwight D. Eisenhower left the New Deal largely intact.

In the 1960s, Lyndon B. Johnson's Great Society took New Deal policies further. After 1974, laissez faire views grew in support, calling for deregulation of the economy and ending New Deal regulation of transportation, banking and communications in the late 1970s and early 1980s.[3] Several New Deal programs remain active, with some still operating under the original names, including the Federal Deposit Insurance Corporation (FDIC), the Federal Crop Insurance Corporation (FCIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA). The largest programs still in existence today are the Social Security System and the Securities and Exchange Commission (SEC).


Sources: White House, Wikipedia, Youtube, Google Maps

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