Franklin Roosevelt and the New Deal

Introduction

• Franklin Roosevelt became President of the United States during the Great Depression.
• He proposed a "New Deal" to counter the economic crisis.
• His presidency began in 1932, at a time when the country was facing severe economic difficulties.

Objectives of the New Deal

• Roosevelt aimed to address three primary goals, known as the three R's:
  1. Relief: Provide relief for the poor and unemployed.
  2. Recovery: Bring the economy back to normal levels.
  3. Reform: Reform financial systems to prevent future depressions.

Implementation

• The New Deal was a series of government programs initiated between 1933 and 1938.
• Some programs were passed by Congress; others were established through executive orders.
• These programs collectively became known as "The New Deal."

Phases of the New Deal

• First New Deal (1933-1934): Focused on economic restructuring and banking industry relief.
• Second New Deal (1935-1938): Aimed to enhance resource utilization, provide farmer relief, and create government work programs.

Major New Deal Programs

• Works Progress Administration (WPA): Employed millions of jobless people.
• Civilian Conservation Corps (CCC): Aimed to employ young men in environmental projects.
• Social Security Act: Offered financial assistance to the elderly.
• Tennessee Valley Authority (TVA): Brought electricity to the rural South.
• Federal Deposit Insurance Corporation (FDIC): Ensured bank deposits, reducing fears of bank failures.

Legacy and Impact

• Many New Deal agencies still exist, including:
  • Federal Housing Administration (FHA)
  • Federal Crop Insurance Corporation (FCIC)
  • Securities Exchange Commission (SEC)
• Built infrastructure: roads, schools, parks, hospitals.

Criticism and Controversy

• Some viewed the New Deal as a shift towards socialism.
• Critics claimed it was a waste of resources and money.
• Some historians and economists argue that New Deal policies may have prolonged the Great Depression.

Conclusion

• Despite criticisms, the New Deal provided significant economic relief and employment opportunities.
• It laid the foundation for modern American infrastructure and social welfare systems.