Unit 8 Presidential Responses to the Great Depression

Unit #8 Presidential Responses to the Great Depression LESSON #8 -8 The Second New Deal p. 255 -258

LESSON #8 -8 The Second New Deal (3/30) ESSENTIAL QUESTIONS 1. What was the goal of the New Deal of FDR? 2. What were some complaints people had about the New Deal? VOCABULARY 8: 8 Deficit spending (255) Huey Long Father Charles Coughlin (256) Dr. Francis Townsend The Second New Deal Works Progress Admin (WPA) The Wagner Act (257) Social Security (258)

Intro thoughts What was the goal of the New Deal? How could you tell if it was successful?

Main Notes THE SECOND NEW DEAL

Remember FDR’s 3 part goal? • Relief • Recovery • Reform

What was FDR’s 3 part goal? • Relief • People needed to trust again • Recovery • People needed to work again • Reform • People needed to invest again

The New Deal (1933 -1935) 1. Save the banks (RELIEF) a. b. c. d. FDIC – insure the banks Fireside Chats – reassure Americans every week Get $$ back into circulation Provide affordable loans to homeowners and farms 2. Get Americans Working (RECOVERY) a. The “alphabet soup” of new agencies • PWA, CCC, CWA b. Get Americans jobs 3. Regulate investments (REFORM) a. Glass-Steagall Banking Act – separate savings banks from investing companies b. Securities and Exchange Commission (SEC) – prevent fraud in the stock market

The New Deal – 3 m description https: //www. youtube. com/watch? v=Wvc. We. Nf 9 g 6 A 24 m summary https: //www. youtube. com/watch? v=4 n 6 r. Q 8 -GSz 4

Fireside Chats • What were two reasons FDR did this? Reassure Americans Provide updates • When the government does NOT do stuff like this, what does it appear the government is doing? Being secretive.

Getting $$ into circulation • Why had people been hoarding their $$ at home, and not in banks or spending? Protecting their $$ • Why is it better for everyone if they keep their $$ moving? • Companies make $$ • Employment stabilizes

The “Alphabet Soup” agencies • Collectively, is the purpose of the PWA, CCC, CWA? Get people working • Why will this be GOOD for Americans? Puts $$ into circulation Economy more stable • Why will this be BAD for America, over time? Dependency on Government for jobs

The NEW DEAL rap https: //www. youtube. com/watch? v=hsw 4 B 1 PWZLQ The SECOND NEW DEAL explanation https: //www. youtube. com/watch? v=qy. Ab. Vm. Ahc 9 g

FDR’s “honeymoon” ends after 2 years • Why do you think he was so popular? the nation was recovering • Read top of p. 55 – which people do you think were most happy? The 2 million who got jobs • Which people do you think had not yet found happiness? The 10 million who still didn’t have jobs

What was the greatest complaint? • The expense was HUGE • FDR never even tried to balance the budget • This irritated most conservatives

You’ll be responsible for finding information on one of these three men: • Huey Long • Charles Coughlin • Francis Townshend 1. What was his job in society 2. What did he think should happen? 3. How did he think the government should accomplish this goal?

Huey Long: 1. What was his job in society? 2. What did he think should happen? 3. How did he think the government should accomplish this goal?

Charles Coughlin: 1. What was his job in society? 2. What did he think should happen? 3. How did he think the government should accomplish this goal?

Francis Townsend: 1. What was his job in society? 2. What did he think should happen? 3. How did he think the government should accomplish this goal?

The Wagner Act • Allowed workers to unionize and bargain collectively • What do you think that means? • Considering how many workers were unemployed, why will this have become an issue?

Social Security • Some believe this is one of America’s most important acts of legislation ever passed • The act would have all employed pay a portion of their income to a fund • That fund would then be used to pay people who needed it most: – Retired people over 65 – People with disabilities – Temporary income for people who lost jobs • FDR saw this NOT as a means of getting $$ - it was to be more like insurance • Why is this considered so important? • Today, all workers pay 7. 5% of their income into this fund • It’s called FICA • What’s your opinion of this fund?