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Roosevelt's New Deal And The Great Depression

722 words - 3 pages

When Franklin D. Roosevelt accepted the Democratic nomination for presidency in 1932, he promised the American people a “New Deal.” The New Deal was President Roosevelt’s program to deal with the deepening Great Depression. On March 9, 1933, exactly five days after his inauguration, FDR kept his promise he made to the people and began implementing his New Deal. The purpose of the New Deal was to relieve the economic hardship, to help millions of Americans, and to solve the unemployment problem. However, after the New Deal was implemented, the economic system worsened through increased inflation and heavy deficit. Millions of farmers were left destitute, businesses failed, and the ...view middle of the document...

Approximately six million pigs were killed in 1933. When farmers took their land out of production according to government regulation, thousands of black sharecroppers and tenant farmers were thrown off their land. As a result of AAA, farm production declined and many more people were hungry, jobless, and homeless.
Another New Deal program was the National Recovery Act (NRA). Its stated purpose was to regulate business, develop price codes, set wages and manage working condition and schedules. The result was that the shorter hours and higher wages increased business costs and forced businesses to reduce staff. After the NRA was implemented, unemployment rose to thirteen million.
In order to finance all of Roosevelt’s government projects, the federal government resorted to heavy deficit financing. In 1934, Roosevelt’s budget projected an income of three billion and an expense of ten billion. The national debt grew from $22 ½ billion in 1933 to $40 ½ billion in 1939. To deal with the growing government need of money, taxes were raised in 1933, 1934, and again in 1935. The restricted economic growth lengthened the depression. All FDR’s plans failed, and there were more American people unemployed in 1940 than in 1932.
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