New Deal success or failure

Summary

In this video, Mr. Carter explains the mixed success of FDR's New Deal during the Great Depression. He discusses how the New Deal provided short-term relief through financial aid but struggled with long-term economic recovery. While programs like Social Security and the FDIC brought lasting reforms, unemployment remained high, and the New Deal's impact on minorities and women was limited. The video highlights how the New Deal changed Americans' relationship with the government, making it a key player in citizens' economic security. World War II, however, was ultimately the catalyst for America's full recovery.

Takeaways

• 😀 The New Deal was FDR's plan to address the Great Depression, aiming for relief, recovery, and reform.
• 😀 The New Deal had mixed success in rescuing the economy, with relief being the most successful aspect.
• 😀 The relief aspect of the New Deal involved putting billions of dollars into the hands of poor Americans, helping them with basic needs like food and shelter.
• 😀 Economic recovery, the second goal of the New Deal, was less successful, with unemployment not improving much until World War II.
• 😀 The long-term reform aimed to prevent another Great Depression by implementing programs like the FDIC and SEC.
• 😀 The FDIC insured people's bank deposits, restoring confidence in the banking system after many bank failures during the Depression.
• 😀 The SEC regulated the stock market to avoid future crashes like the one in 1929.
• 😀 The New Deal fundamentally changed the relationship between Americans and their government, with the government becoming more responsible for citizens' welfare.
• 😀 Social Security, unemployment insurance, and other welfare programs were introduced, marking a shift in government support for citizens.
• 😀 Despite these advances, the New Deal did not fully address unemployment and failed to help African Americans, Hispanic Americans, women, and other marginalized groups equally.
• 😀 The New Deal’s long-term impact included infrastructure projects like roads, bridges, and public buildings, as well as creating hope during the Depression, even though it didn’t fully end it.
• 😀 World War II played a key role in finally lifting the U.S. out of the Great Depression, as more jobs were created during the war.

Q & A

What was the primary goal of the New Deal?

The primary goal of the New Deal was to help America recover from the Great Depression by providing relief, recovery, and reform through various government programs.

How did the New Deal change Americans' relationship with the government?

The New Deal fundamentally changed Americans' relationship with the government by making the government responsible for providing financial assistance and support to citizens during times of hardship, such as through unemployment benefits and Social Security.

What were the '3 R's' of the New Deal, and what did each one focus on?

The '3 R's' of the New Deal were Relief (providing immediate financial aid to the poor), Recovery (promoting economic recovery and job creation), and Reform (introducing long-term measures to prevent another Great Depression).

What was the role of the Federal Deposit Insurance Corporation (FDIC) in the New Deal?

The FDIC was created to insure bank deposits, ensuring that even if a bank failed, depositors would not lose their money. This helped restore public confidence in the banking system.

Why was unemployment not significantly reduced by the New Deal?

Unemployment did not see a major decrease under the New Deal because the economic recovery programs were not enough to fully restore job opportunities. Significant improvements in employment only came with the onset of World War II.

What was the purpose of the Securities and Exchange Commission (SEC) under the New Deal?

The SEC was established to regulate the stock market and prevent fraudulent practices, aiming to avoid another financial crash like the one that occurred in 1929.

What impact did the New Deal have on government size and its role in American society?

The New Deal expanded the role of the federal government, making it more involved in the daily lives of American citizens by providing social programs such as welfare, unemployment benefits, and Social Security.

What criticism did the New Deal face regarding discrimination?

The New Deal faced criticism for allowing some programs to discriminate against African Americans, Hispanic Americans, women, and other minorities, as many of the benefits primarily went to white citizens.

How did Social Security function as part of the New Deal?

Social Security was introduced to provide financial assistance to older citizens who were no longer able to work, ensuring they had income during retirement, funded through payroll taxes.

What long-term projects and infrastructure were created by the New Deal?

The New Deal led to the construction of various public works projects, including bridges, dams, and roadways, some of which are still in use today. For example, the Civilian Conservation Corps (CCC) built hiking trails and infrastructure across the country.