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Instructions: 1.Grab a computer 2.Log on 3.Close the lid OR Use your own device

Instructions: 1.Grab a computer 2.Log on 3.Close the lid OR Use your own device. In the land of make-believe…. Retirement benefits (pensions, 401Ks, Social Security) don’t exist How would this impact people’s lives? How would they have to live differently?. Great Depression Recovery: Part 2.

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Instructions: 1.Grab a computer 2.Log on 3.Close the lid OR Use your own device

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  1. Instructions:1.Grab a computer2.Log on3.Close the lidORUse your own device

  2. In the land of make-believe…. • Retirement benefits (pensions, 401Ks, Social Security) don’t exist • How would this impact people’s lives? • How would they have to live differently?

  3. Great Depression Recovery: Part 2

  4. 2nd New Deal • After 2 years, FDR’s 1st New Deal had only slightly improved the economic situation • FDR created more laws to continue boosting the economy (known as the 2nd New Deal) • More work programs • Financial assistance programs • The biggest of them all….

  5. Social Security • Provide financial security for people who need help the most: • Elderly (pensions for retired people) • Unemployed (Unemployment checks) • Disabled people • Poor families • Funded by taxes taken out of wages • Shows up as “FICA” on your paystub • Federal Insurance Contributions Act tax

  6. Impact of the New Deal Plans • New & larger govt. presence in daily lives • Government spending • Social Security • Retirement pension • Unemployment benefits • Disabled benefits

  7. Quick Review • What was the purpose of the 2nd New Deal? • Why was Social Security created? To continue helping the economy improve Provide financial security for elderly, poor, unemployed, and disabled

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