Why Was The Second New Deal Important

848 Words4 Pages
David Lowe APUSH P.1 8/28/2012 On the 29th of October in the year 1929, the worst economic depression in American history started called The Great Depression. President Roosevelt(FDR) inaugurated in 1933, led a daring restructurization of the economic policy that was present in that time. The recovery of the Great Depression is one of the most significant events in US history because it shaped our countries economy into the current economy in which we have today by the 1st New Deal, created Act's that were beneficial and important to the lives of Americans by the 2nd New Deal, and it created a more beneficial perspective of the lives of Americans creating many beneficial programs . The New deal was a way FDR restructured the American economy thus recovering from the Great Depression. By the time FDR became president in 1933, the unemployment rate was at 33%. The Chicago Grain Exchange, New York Stock Exchange and the banking system had collapsed. The New deal was separated into the 1st New Deal and the 2nd New Deal. The 1st New Deal delt with more diverse groups such as banking, railroads, and industry in which all of them…show more content…
One of the most important Act is the social Securty Act, drafted by Francis Perkins. It established a permanent system of Universal retirement pensions (Social Security), unemployment insurance, and welfare benefits for the handicapped and needy children in families without a father. It is the framework of the US Welfare system today. The Social Security Act created a way where it would help many people who are in need because of the loss of a man in the familiy (such as widows or no father). This is especially important since one mother can't support her family as well during the Great Depression which caused a lot of starvation. This is very important to the fact that it affected all of America and helped most of the people in

More about Why Was The Second New Deal Important

Open Document