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The Second New Deal

The Second New Deal. I. 1934. A. Mandate from the people 1. democrats had an overwhelming victory in 1934 Congressional elections B. Reduction in direct relief 2. “Must preserve the self-respect of Americans” C. Increasing taxes for corporations and the rich.

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The Second New Deal

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  1. The Second New Deal

  2. I. 1934 A. Mandate from the people 1. democrats had an overwhelming victory in 1934 Congressional elections B. Reduction in direct relief 2. “Must preserve the self-respect of Americans” C. Increasing taxes for corporations and the rich

  3. II. Alphabet Soup Continues… A. Works Progress Administration (WPA) ~ 1935 1. built or improved highways 2. promoted soil water conservation 3. provided programs in the arts B. Social Security Act 1. pension plan for elderly 2. unemployment ins. for workers who lost jobs 3. insurance for victims of work related accidents ** did not apply to domestic workers or farmers (i.e. MANY blacks)

  4. C. Rural Electrification Administration (REA) 1. brought electricity to many farms 2. by 1950, more than 80% of farms had electricity D. Wagner Act (National Labor Relations Act) 1. recognized rights of workers to join unions 2. gave workers right to collective bargaining 3. created National Labor Relations Board (NLRB) E. Fair Labor Standards Act ~ 1938 1. minimum wage & maximum work week 2. outlawed child labor

  5. III. Economics of the New Deal A. FDR conservative at first (1933-34) B. Greatly expanded government programs (AND spending) from 1934 on C. “Keynsian Economics” ~ John Maynard Keynes 1. Government MUST be involved in economics 2. deficit spending is necessary a. “Priming the Pump” theory b. when prosperity returns, the govt. should use taxes to pay off deficit

  6. Businesses profit Demand Spending Federal $ (debt) Work Relief & Direct Relief

  7. IV. – “New Deal Honeymoon is Over” A. Criticism mounting 1. FDR taking too much power a. dictator? 2. rising deficit a. 1932 = $461 million b. 1936 = $4.4 billion 3. businesses and wealthy felt they were being abused – paying for programs through increased taxes B. Won election of 1936 despite all of this 1. Economy WAS improving

  8. V. Court Packing Scandal A. By 1936, many New Deal programs found unconsti-tutional by the Supreme Court B. FDR saw the Supreme Court as his biggest challenge to his New Deal goals 1. Proposed adding a new justice each time a current justice turned 70 2. at the time, there were 6 justices over age 70 C. Critics claimed he wanted to “pack” the court with New Deal supporters 1. FDR found it harder to pass laws through Congress after this

  9. VI. Was the New Deal a success? A. By 1936, economy WAS improving 1. upon reelection, FDR cut deficit spending 2. Federal Reserve Board raised interest rates ** put economy into a tailspin B. By 1938, nearly all gains in employment and production were wiped out 1. FDR lost power base in 1938 congressional elections C. In 1939, the world’s focus turns to Hitler & the Nazis

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