The Great Depression was a time of great suffering in American history. Remarkably it was a time that marked the American people and the country was able to emerge shining and stronger than ever. The Great Depression began in 1929 when in the month of October the stock market crashed and fourteen billion dollars were lost. In just one week, thirty billion dollars were gone. This loss was so monumental because it was ten times the average annual budget of the United States.
The depression struck hard at all the industries in the United States. This left thousands and thousands of people jobless and even homeless. The first industries to be affected were construction and production. Soon after, the agricultural industry was hit hard. Over 750,000 farms were lost due to how the price of crops dropped drastically which ended up bankrupting the farmers. The unemployment rate was at 25%, the highest ever in American history. The population took yet another devastating blow with lack of food and illness due to inability to pay for medical care. President Hoover lost the election to Franklin D. Roosevelt because the American public considered Hoover to be incapable of handling the crisis. The Great Depression ended up carrying on until the second world war.
Recently the United States faced something very close to the Great Depression. The stock market crashed again and millions of jobs were lost. Prices rose and Americans were headed for a slump that would take a long time to recover from. Ever so slowly the economy began to move forward again. But to this day the economy is still crippled and the American people are still paying for it.
The New Deal was a series of economic programs that were implemented in the United States between 1933 and 1936. The man responsible for the New Deal was none other than Franklin D. Roosevelt. The New Deal was a response to the Great Depression and mainly focused on Relief for the unemployment and the poor, Recovery of the...
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