Was the New Deal a success or a failure?

The New Deal was Franklin D. Roosevelt’s program to deal with the effects of the Great Depression. While it didn’t get us out of the Great Depression, it did help alleviate the harsh effects it had on many Americans. It also created some programs that we still have today. Thus, it is fair to say the New Deal was fairly successful.

When President Roosevelt took office, our financial system was in ruins, and nearly 25% of our people were unemployed. President Roosevelt took steps to strengthen the banking system and to increase the confidence our people had in it. The Emergency Banking Relief Act closed all banks until the federal government could inspect them. Then, only the strongest banks were allowed to reopen. President Roosevelt also told the American people they needed to have confidence in our banks as a result of the actions the government took. President Roosevelt also helped the Glass-Steagall Act become law. This law prevented commercial banks from investing in the stock market. It also created the Federal Deposit Insurance Corporation, which provided insurance for savings accounts. We still have the Federal Deposit Insurance Corporation today. The Securities Act required companies to provide truthful information to investors. It also created the Security and Exchange Commission to regulate the stock market and to prevent fraud. We still have this agency today.

There were several job programs created to get people back to work. The Civilian Conservation Corps provided jobs for young men who worked on conservation projects in the West. The Public Works Administration provided money to hire workers to work on construction projects such as roads, bridges, and schools. The Civil Works Administration did the same thing. As a result of these programs, unemployment dropped as more people were working.

The Social Security program was created by the New Deal. The program provided a pension to those people who were at least 65 years old. It also provided aid to the unemployed and helped those who were disabled. This program is very important today. Many people depend on this program as part of their retirement income.

The New Deal was created to deal with the effects of the Great Depression. It also tried to provide safeguards to prevent another Great Depression from occurring. While unemployment wasn’t reduced to a normal level by the New Deal, it did get people back to work and provided some safeguards to prevent another Great Depression from occurring. We have not had another Great Depression. We have programs from the New Deal that impact us today. Thus, it can be said that the New Deal was generally a success.