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The Pros And Cons Of The New Deal

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At the ending of the roaring twenties, the American economy was hit with one of the worst set backs ever. The Great Depression had started the losing of many banks and the loss of many jobs. Many people blame president Hoover for the hard time, but Franklin D. Roosevelt had been elected into office with a plan known as the new deal. The new deal was effective for solving America’s problems in the Great Depression by creating more job opportunities, reinvigorating the economy with cash flow, and investing in infrastructure that had long term benefits to the country.

Due to credit many banks had been shut down which lead to our economy to be in a rough spot after the 1920s. The banks were giving away to much credit that was causing debt. As soon as Franklin D. Roosevelt was elected for president, he went straight into working by meeting with Congress as much as he could to initialize many new programs to save the country,this is known as the first 100 days. President Roosevelt knew he had to do something fast to stabilize banking system to stop from being shut down. Emergency Banking Relief Act was an act passed by the United States Congress in March 1933 in an attempt to stabilize the banking system. This act help increase cash flow which was needed to get out of the Great Depression. The key was not …show more content…
For example, the Federal Emergency Relief Administration was a program that was allowed to give money during hard times like these. The FERA was distributing money consequently to help increase cash flow. The economy began to start healing due to the different tactics which were beneficial for a long time. In an addition to that the New Deal created more institutions to brink and keep stability to shaky banks. Some of the institutions were the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the National Labor Relations

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