Franklin Delano Roosevelt New Deal. Hoover and republicans blamed for the depression it is obvious...

Franklin Delano Roosevelt

New Deal

Hoover and republicans blamed for the depression it is obvious he is not going to be re-elected in 1932

Hoover is a Lame Duck

1932 election FDR wins a landslide victory as do

Democrats on all levels

Brains Trust =FDR’s executive cabinet that came up with most of the New Deal programs

New Deal Philosophy Deficit Spending, John Maynard

Keynes, Keynesian Economics, Need to create jobs and get money in

the economy

1st Day in Office 4 day bank holiday

Fire Side Chats =Very Effective, explained banking and finance to the public in simple terms and his plan to fix the problem

Glass Stegal Act- established regulations for banks, FDIC

Emergency Banking Act all banks have to be inspected to re-open

SEC- regulates Wall Street

NRA and AAA set quotas, reduce production,

industries and farmers Even out supply and demand to

adjust the price government coordinated

Henry Ford Refused to participate

FERA Federal Emergency Relief

Administration (FEMA) = 1st time government gives money for nothing, (Welfare), created Social Security Act (1935), pension for over 65 residents

Opposition to the new Deal

(Not Doing Enough) Socialism = Government regulated

business for the good the people -80,000 votes in 1936 - (? NRA, NIRA, AAA, FERA?)

Communism = Dictator has control of total

economy, collective ownership of property, all goods are equally shared. 187,000 votes in 1936

Fascism = dictator control of business and

politics for the good of the state,

Italy and Germany in WWII

Huey P. Long the King Fish LA senator “every man a king” “Share our Wealth” program -$5 million max fortune -max income of $1.8 million annually -$5,000 to every family annual

income of $2,500 -old age pension for over 60

education and training for all based on ability

-4 million followers in 35 -could have won democratic

nomination in 36 assassinated in 35

Others Dr. Francis Townsend and Father Charles Coughlin

New Deal Legacy Did not end the depression Greatly expanded the power of the

Federal Government Federal Government has a

commitment to personal economic security

Created an American Welfare State

-more humane industrial society 40 hr week, child labor

-Democratic Party grew and dominated politics for decades

-solid supporters, blacks, labor, majority of middle class