The Great Depression & New Deal
Q: During the Great Depression, what was President Roosevelt's program to fix the economy called?
A: The New Deal
The Great Depression:
Stock market crash — October 29, 1929 (Black Tuesday)
Unemployment reached 25%
Banks failed across the country
Dust Bowl devastated Great Plains farms
Lasted until late 1930s / early WWII era
The New Deal (FDR, 1933–1939):
Relief — immediate help for unemployed (CCC, WPA)
Recovery — economic recovery programs (AAA, NRA)
Reform — prevent future depressions (FDIC, SEC, Social Security)
Key New Deal programs still in existence:
Social Security (1935) — retirement and disability insurance
FDIC — insures bank deposits up to $250,000
SEC — regulates stock markets
Q: Who was President during the Great Depression?
A: Franklin Roosevelt (FDR)
Reference:
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