The Legacy of the New deal

1. The Legacy of the New deal

2. Criticisms of the New Deal • Gives too much power to the Government, which taxes Americans in order to fund programs (like Social Security) • More money was spent than collected in taxes –hoping that future gains would balance the budget • It didn’t end the Great Depression. But what did?

3. What really ended the Great Depression? • World War II began when Pearl Harbor was bombed by the Japanese on December 7, 1941 – “a date that will live in infamy.” • Employment in the United States went to 100% virtually overnight, as fifteen (15) million men joined the armed forces and factories began producing metal works, weapons, and supplies. • Prosperity would continue after the war, as the United States emerged as a military and economic superpower.

4. Accomplishments of the New Deal • Employed millions of people through public work programs (like the PWA) – RELIEF • Created programs for the poor and disadvantaged (like Social Security) - RELIEF • Increased role of the federal government in economic affairs (like the FDIC ) - RECOVERY • Government is needed to regulate business practices (like the REA) – REFORM http://www.youtube.com/watch?v=WvcWeNf9g6A