The Great Depression was a tough time for many people, but it led to important changes in how the government helped the economy.
The New Deal: This was a group of programs started by President Franklin D. Roosevelt. The goal was to help those without jobs, recover the economy, and fix the banking system. Some important parts of the New Deal included:
Banking Reforms: In 1933, the government passed the Glass-Steagall Act. This law helped people trust banks again by keeping commercial and investment banking separate.
Social Safety Nets: In 1935, the Social Security Act was created. It provided support for older people and those who lost their jobs, which was the beginning of our modern system to help those in need.
These changes helped reshape how the government operated in the economy and aimed to stop similar financial crises from happening in the future.
The Great Depression was a tough time for many people, but it led to important changes in how the government helped the economy.
The New Deal: This was a group of programs started by President Franklin D. Roosevelt. The goal was to help those without jobs, recover the economy, and fix the banking system. Some important parts of the New Deal included:
Banking Reforms: In 1933, the government passed the Glass-Steagall Act. This law helped people trust banks again by keeping commercial and investment banking separate.
Social Safety Nets: In 1935, the Social Security Act was created. It provided support for older people and those who lost their jobs, which was the beginning of our modern system to help those in need.
These changes helped reshape how the government operated in the economy and aimed to stop similar financial crises from happening in the future.