Franklin D. Roosevelt and the New Deal

FDR Elected in 1932 Took Oath of Office – Mar 5, 1933 Began New Deal on inauguration day New Deal – economic stimulus package to get US out of Depression Elected to 3 more terms 1936, 1940, Only President to serve more than two.

Restore Confidence Upbeat and Optimistic Great Speaker –Inaugural address - “Only thing we have to fear is fear itself” –Fireside Chats – weekly radio address

The First 100 Days Greatest period of domestic legislation in American History in regards to the number of significant bills that were passed

Bank Recovery Lines at banks 4/5 of states temporarily closed their banks Emergency Bank Act – Mar 9, 1933 Federal Deposit Insurance Company (FDIC) – June 1933

Creation of Jobs – May 1933 Federal Emergency Relief Act (FERA) Civil Works Administration Civilian Conservation Corps (CCC)

Agricultural Adjustment Act (AAA) – May 1933 Farm commodity prices depressed Attempt to make farming competitive Provided subsidies for farmers to not plant - fallow land

National Industrial Recovery Act (NIRA) – June 1933 Created Public Works Administration - $3.3 billion Established fair competition standards by industry Workers rights Opponents argued it is communism Ruled unconstitutional in 1935

Is It Working?? Had no clear ideological basis, but... Banks reopen 100,000 people go back to work. Economic indicators start to rise. Creates optimism. Does not end the depression…this leads to the 2 nd New Deal

Reform Legislation of 2 nd New Deal WPA – Works Progress Admin NLRA – National Labor Relations Act (Wagner Act) Social Security Act 1935

New Deal In Decline FDR’s reputation from Court Packing takes a hit Recession in 1937 – more criticism of New Deal Labor Strikes – national mood toward labor declines Issues with Italy, Germany, Japan

John Maynard Keynes Government must spend during a recession –Deficit spending is OK if necessary Hope is to jump start the economy During good economic times you pay down the national debt.

The New Deal in closing Increased the size of federal bureaucracy Committed country to federal responsibility for national welfare African-Americans shift from republican to democrat voters