FDR & the New Deal. I. FDR Elected in 1933 20 th amendment Served 3 terms as president Passes away during his 4th term (1945) Suffered from polio and.

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Chapter 23 Roosevelt and the New Deal

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FDR & the New Deal

I. FDR Elected in th amendment Served 3 terms as president Passes away during his 4th term (1945) Suffered from polio and had limited mobility Credited with recovery from depression Author of the New Deal

II. The New Deal Program to help U.S. recover from depression 3 goals 1.Relief for the needy 2.Economic recovery 3.Financial reform First 100 Days First days in office – passes extensive New Deal Legislation (1933) Introduced through Fireside Chats Second 100 Days (1935)

New Deal Programs Reform Banking System Federal Deposit Insurance Corporation (FDIC)-Insures bank accounts up to $5000 Regulate Stock Market Securities and Exchange Commission (SEC)- prevented people from having “inside” information Rural Assistance Agricultural Adjustment Act (AAA)- raise prices by lowering production and paying farmers for losses (i.e. Govt. paid Cotton Farmers to plow under 10 million acres) Tennessee Valley Authority (TVA)- renovated dams and constructed 20 new dams; provided hydroelectric power and flood control

Programs cont: Providing Work Projects- Civilian Conservation Corp (CCC)- men aged 18 to 25 to work in national reserves & agricultural areas; helped reforest the dust bowl areas. Public Works Administration (PWA)- money to school & communities

Additional Programs Housing Home Owners Loan Corporation (HOLC)- loans for homeowners who faced foreclosure Federal Housing Authority (FHA)- loans for home mortgages Retirement Social Security Act (SSA) unemployment compensation, old age retirement & aid to families with dependent children & the disabled

Supporters and Critics of the New Deal SupportersCritics Policies were the perfect balance between unregulated capitalism and overregulated socialism Provided jobs to 1.4 million people. Government took responsibility for the economic welfare of citizens Policies made the government too large and too powerful Crippled the free-market system Did not do enough to socialize the economy and bridge the gap between the rich and the poor.

Impact of New Deal +- *Provided jobs, food, and money to thousands of people *Helped people regain a sense of dignity *Protection of Worker’s rights *Regulations of stock market and banks Social Security provides old-age insurance, unemployment compensation, and aid to disabled. Improved the conditions of rural America Conserved the environment through planting trees, installing fire look out towers, teaching farmers new techniques, and reducing public grazing land Did not end the Great Depression Federal Government went deeper into debt to provided aid. Caused inflation; raised the cost of living