The New Deal which took place during the administration of U.S. President Franklin D. Roosevelt between 1933 and 1939 was an action to bring economic relieve as well as reforms in industry, agriculture, finance, labour and housing, and meet the difficulties of the Great Depression (worldwide economic downturn that began in 1929 and lasted until 1939 causing severe unemployment and deflation in almost every country in the world).
During the New Deal several programs were created to help with the hard situation the U.S. was going through.
Some of these programs are:
Civilian Conservation Corps (CCC) created in 1933, which was created to provide jobs to many Americans and was responsible for building many public work projects and create structures and trails in parks across the nation, is still in use today.
By 1934 the Congress created the Securities and Exchange Commission (SEC). It is still used today. Banks could no longer buy stocks with depositor’s money. Companies that wanted to sell shares to the public to raise money had to disclose their financial information to potential investors. Its mission is to protect investors, maintain fair, orderly and efficient markets, and facilitates capital formation.
The Social Security Act of 1935, was designed to combat poverty among senior citizens and to aid the disabled. This is still in existence today and is funded by current wage earners and their employers.
These methods created long time ago to deal with the economic crisis at that time, are still helping lots of American citizens nowadays too.
