As stated by Tom Raum (2009) in his report entitled: "Analysis: Obama Plans Eclipsing New Deal Spending" the President's bailout package includes: (1) Congress passed and Obama signed into law a record $787 billion mix of tax cuts, job-creating projects and aid to struggling states; (2) The president pledged up to $275 billion in federal aid to help stem a tidal wave of home foreclosures; and (3) The Treasury Department and the Federal Reserve announced financial-rescue steps that could send up to $2 trillion coursing through the economy. (Raum, 2009) Raum (2009) states: "In all, the plans would raise the federal portion of the U
"We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies." (Sullivan, 2004) Sullivan reports that Ohanian and Cole, "in an article in the August issue of the Journal of Political Economy…blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933
He does agree that the New Deal was not a full blow and high magnitude and impact program, but it managed to attain the objective of not having yet another crisis break out. According to him: "In spite of its minimal reforms and nonrevolutionary programs, the New Deal created a limited welfare state that implemented economic stabilizers to avert another depression" (Biles, 1991)
Accroding to Burton: "The New Deal prolonged the Great Depression because its antifree market program of high taxes and special-interest spending to certain banks, railroads, farmers, and veterans created an antibusiness environment of regime uncertainty. […] Its agencies created an antibusiness environment that rejected free market capitalism with special-interest spending financed by high taxes" (Folsom, 2008)
And hence, this bill goes against one of the basic rules of social insurance by placing the entire burden of insecurity upon the industrial sector, to the exclusion of the richer population. (Epstein, 1935) The second source is Albert Mayer's 'Can We Have a Housing Program?' A Public Housing Program was another of Roosevelt's efforts as part of the New Deal
This was therefore, one of the more successful programs under the New Deal. (Fechner, 1939) Sources: Epstein, Abraham
Hence, Mayer says, an immediate plan is required which would be practical and would incorporate all the features which were previously left unattended to in Roosevelt's Housing Plan. (Mayer, 1935) The third source used is Robert Fechner's "My Hopes For the CCC'
New key spending programs that were focused on education, urban problems, medical care, as well as transportation, were launched within this era. In the 60s and the succeeding years, both president Johnson and all other democrats subsequently promoted the program and its ideas (Andrew, 1998)
It equally shut down the banks, to reduce the panic that followed the numerous cash withdrawals. At this time, the federal government, and not private institutions, carried out a review of the different practices and bank books, and decided who should or could reopen (Berkin et al
The New Deal on its own part paid attention to what historians refer to as the 3 Rs: Relief, Recovery and Reform. This means, Relief for the poor and unemployed; Recovery of the economy; to the right levels; and the reform of the financial system to avoid a repetition of the depression (Lerner, 2012)
These two groups provided the necessary services during the Great Depression. The two groups desired to end every trace of racial diversity, but their views of how best to do this were varied, so suffice it to say that the two groups impacted positively on the history of the United States and the lives of its citizens (Lloyd & Davenport, 2013)
They made use of these policies already put in place by the New Deal to make sure they continued to find innovative thoughts and ideas. Their aim was to put an end to poverty and eliminate all forms of discriminations (Milkis & Mileur, 2002)
" In Roosevelt's first hundred days as the president, the Congress passed fifteen main policies meant to fuel the economic development as well as enhance the social conditions. The ultimate objective of Roosevelt was to transform, relieve, and improve America (Eggertsson 8)
He allowed them to reopen just after every bank got a government license. In the mean time, the federal government established a temporary system of federal deposit insurance, and a year later, followed up through the creation of the Federal Deposit Insurance Corporation (FDIC) as well as a permanent deposit insurance system (Kirkwood 68)
Nonetheless, there exist other more prejudiced explanations of the effects of the New Deal. In retrospection, we can view the general impacts of every single New Deal policy, and evaluate its usefulness as a whole (Parker 58)
A notable figure Ms. Zora Neale Hurston, the renowned African-American novelist, anthropologist, folklorist, and playwright (Grunwald, 2012)
National banks also shut their doors leading to lose of savings that individuals banked in these financial institutions. The Great Depression affected more than 90,000 families in Florida State (Hiltzik, 2012)
At that time, the nation was proactive in war matters leading to declined funding of other projects including CCC and WPA. Effects of the Program in Florida today The New Deal resulted in significant benefits for Florida, for example, WPA created a footprint for Pittsburgh International Airport, Pittsburgh parks and conservancies (Stuart & Stack, 2008)