Midterm Pt. II: Essay
The New Deal
Ambitious through his suffering of Polio, President Franklin D. Roosevelt was determined to bring major changes just as his uncle, Theodore Roosevelt had done years prior. After the stock market crash of 1929, his famed “New Deal” brought changes to the nation which seemed to reduce the stresses of the collapse, alleviating the pressures that it had on the American people. Roosevelt’s reform initiated the separation of banks into two sectors, commercial and investment banks. With these new changes came along the FDIC, otherwise known as the Federal Deposit Insurance Corporation, which insured an investor’s deposit and is extant to present day. Many changes don’t seem as complex on their surface when reading about them, but creating these required much critical thinking. Whether one would choose to agree or disagree with Roosevelt’s “New Deal”, it’s quite clear that his mission was so impactful on our nation that it very much laid the groundwork of the financial and social programs which are in place today.
So do I feel the New Deal was a success or a failure? I can say that I support the belief that The New Deal is responsible for piggybacking America through the 20th and into the 21st century. It gave much more power to the American government by its call for “massive government intervention in the economy” which led to the population seeing the government as their new savior. In the information provided, Secretary of the Treasury, Henry Morgenthau had stated “We are spending more that we have ever” referring to Roosevelt’s plan as not fulfilling its intended purpose and making matters worse (Madaras. 9). On their surface, federally-funded programs mad lead us to witness and take part in an “imaginative” stimulation of our economy, but the long-term effect may seem to dig a deeper hole in our national debt, resulting in more inflation and additional taxation. It’s easy to agree that having raised taxes, perhaps does truly slow down our consumer spending and the growth of our national economy.
It’s not uncommon today to see people relying on some sort of insurance benefit programs available through the government funded by taxpayers’ dollars. Yes, there are people that are either born, or left permanently disabled and/ or unemployed that need some sort of supplemental income in order to survive and meet their basic needs, but I feel it’s apparent that many of these programs have led to a mess of fraudulence and abuse and have only set us back.
It’s hard to look back and see if there was any other possible way to push through The Great Depression. I do feel that the power of the government might have possibly got out of hand today through these programs initiated by Roosevelt’s New Deal, but it’s hard to fathom any other way to live. Examining our nation’s present-day situation leads me often feeling as if we’ve transformed into a Socialist state. Every time the thought of living in a Socialist nation...