The New Deal

Election of 1932•FDR won 42 states, received 23 million popular votes, and 472 electoral votes

•Hoover received 16 million popular votes and won only 59 electoral votes

•Both the House and Senate were swept over with Democratic victories

•With Congresses backing, FDR was confident to pass his new legislation

Hundred Days•This was the name given to FDR’s plan to pass all New Deal legislation in 100 days

•Brain Trust: Pres. Roosevelt’s advisors

•Bank Holiday: Day after inauguration FDR declared that all banks would close to prevent massive withdrawals

FDIC•FDIC = Federal Deposit Insurance Corporation

•The FDIC insured that each bank account could be refunded up to $2,500

•Today, the FDIC insures up to $100,000 per account

•This greatly increased customer trust in the banking system

NIRA •NIRA = National Industrial Recovery Act

•Designed to stimulate economy by stabilizing prices, raising wages, limiting worker hours, and providing jobs

•NIRA created the Public Works Administration and National Recovery Administration

•Found to be unconstitutional

PWA•PWA = Public Works Administration

•Created by NIRA, the PWA led to the creation/construction of roads and public buildings

•34,000 different projects were undertaken

WPA•WPA= Works Progress Administration

•Created in the wake of the CWA

•Employed 14 million people

•Built 100,000 public buildings, 78,000 bridges, 500,000 miles of roads, and 350 airports

Social Security Act•The SSA had 3 major divisions…

•1) Provide unemployment insurance to those who lost jobs

•2) Provide pensions for retired workers over 65

•3) Provided payments to the blind, elderly, and to wives and children of a male worker who died