USA HISTORY

Detailed explanation-1: -At the height of the Depression in 1933, 24.9% of the nation’s total work force, 12, 830, 000 people, were unemployed. Wage income for workers who were lucky enough to have kept their jobs fell 42.5% between 1929 and 1933. It was the worst economic disaster in American history.

Detailed explanation-2: -Summary of First and Second New Deal programs. By 1936, the term “progressive” was typically used for supporters of the New Deal and “conservative” for its opponents. Roosevelt was assisted in his endeavors by the election of a liberal Congress in 1932.

Detailed explanation-3: -President Franklin D. Roosevelt’s “New Deal” aimed at promoting economic recovery and putting Americans back to work through Federal activism. New Federal agencies attempted to control agricultural production, stabilize wages and prices, and create a vast public works program for the unemployed.

Detailed explanation-4: -It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.

Detailed explanation-5: -Historians commonly speak of a First New Deal (1933-1934), with the “alphabet soup” of relief, recovery, and reform agencies it created, and a Second New Deal (1935-1938) that offered further legislative reforms and created the groundwork for today’s modern social welfare system.