Important New Deal Programs in Effect Today Essay Example
Important New Deal Programs
That Are Still In Affect Today
During the Depression, Franklin Delano Roosevelt came into office and decided that in order to help America; he would come up with a group of New Deal Programs to help to fix the Depression. The First New Deal Program that I will address is the SSA or Social Security Act. This is a very common act still in effect today. In the Great Depression when you lost your job or retired you couldn’t go to the bank and get extra money to help you survive. This sparked the Social Security Act, which stated when someone retired, became handicapped, or got laid off, the bank would give you a certain amount of money based on your salary. This is an important Act for prohibiting another Depression because there are many unemployed, handicapped, or retired America citizens in need of money so they can stay on their feet. The assistance keeps people buying things so companies won’t be forced to lay off even more workers. The Second New Deal Program still in effect today is the FDIC or the Federal Deposit Insurance Corporation. During the Depression when everyone lost their jobs and needed money, they rushed to the bank at the same time wanting to withdraw their savings because they got laid off of their jobs. The banks didn’t have the money to give to everyone, so they were forced to close down. This caused a big problem. FDR recognized this and decided to create the FDIC which states, that all banks get protected with a payment of up to $5,000 to keep some money in the bank to give to anyone who needs it. This protection will also help prevent another Depression because the banks will always have at least a little money to be able to give to those who request it. The Final New Deal Program that I will go over is the FLSA or Fair Labor Standards Act. This is an extremely common New Deal Program still used today. During The Great Depression, some people would work seven days a week and very long hours, but still
That Are Still In Affect Today
During the Depression, Franklin Delano Roosevelt came into office and decided that in order to help America; he would come up with a group of New Deal Programs to help to fix the Depression. The First New Deal Program that I will address is the SSA or Social Security Act. This is a very common act still in effect today. In the Great Depression when you lost your job or retired you couldn’t go to the bank and get extra money to help you survive. This sparked the Social Security Act, which stated when someone retired, became handicapped, or got laid off, the bank would give you a certain amount of money based on your salary. This is an important Act for prohibiting another Depression because there are many unemployed, handicapped, or retired America citizens in need of money so they can stay on their feet. The assistance keeps people buying things so companies won’t be forced to lay off even more workers. The Second New Deal Program still in effect today is the FDIC or the Federal Deposit Insurance Corporation. During the Depression when everyone lost their jobs and needed money, they rushed to the bank at the same time wanting to withdraw their savings because they got laid off of their jobs. The banks didn’t have the money to give to everyone, so they were forced to close down. This caused a big problem. FDR recognized this and decided to create the FDIC which states, that all banks get protected with a payment of up to $5,000 to keep some money in the bank to give to anyone who needs it. This protection will also help prevent another Depression because the banks will always have at least a little money to be able to give to those who request it. The Final New Deal Program that I will go over is the FLSA or Fair Labor Standards Act. This is an extremely common New Deal Program still used today. During The Great Depression, some people would work seven days a week and very long hours, but still