U.S. History/The New Deal
Hi, can you talk over the New Deal legislation? What was the legacy of the New Deal? and also, in n what ways did the New Deal change Americans’ attitudes toward the role of the federal government in their daily lives?
The New Deal covers a whole range of laws enacted to help the US recover from the Great Depression of the 1930's. However, many of those laws were designed to make permanent changes. Essentially, before the New Deal, most people thought the federal government could not have a significant impact on the economy. Periods of boom and bust were considered part of a capitalist economy. Laws could not change that.
The New Deal rejected that thinking and tried to make all sorts of changes. It enacted banking laws that provided insurance to investors and greatly increased federal regulation of private banks. They instituted Social Security to provide some pension income for almost all Americans. They created a whole range of public works programs to provide jobs for unemployed citizens. They even created farming restrictions to control the level of food supply.
Although many of these problems have changed over time, they largely remain in place. The Federal Government is considered responsible for maintaining a stable economy. All of these programs have also led to a much larger federal government and also much higher federal taxes to pay for all this.