undoubtedly Franklin Roosevelt's New Deal fundamentally changed America more
than any other set of policies in American history while that pulled the
country out of economic collapse the New Deal did not end the oppression however
the New Deal programs put people back to work gave people hope and stimulated
economic growth because of the New Deal the government had assumed greater
responsibility for the well-being of its citizens citizens are no longer on their
own in times of crisis the government is more active in creating jobs when firms
simply can't people can trust that the government can act when the economy
fails today we're gonna look at several ways that the New Deal had a lasting
impact on America the first lasting legacy of the New Deal is Franklin
Delano Roosevelt himself Franklin Roosevelt was America's friend and
leader the rose who had no hope FDR became a beloved hero and a friend
most americans wanted their government to try something to help them and FDR
delivered he provided direct relief jobs hope and self-respect to the downtrodden
ironically most americans who couldn't stand for themselves didn't know that
their friend and leader himself could not walk stricken by polio at an early
age FDR lost the use of his legs and needed
leg braces to walk and a wheelchair to get around
Americans had no idea until after his death that the man who got them back on
their feet could not stand on his own himself the media and the White House
had an unwritten rule that reporters would not show FDR either in his
wheelchair or walking with leg braces as to protect his image with the American
people this proved vital to the confidence that the American people had
in Roosevelt even cartoons of Roosevelt like the one seen here showed him using
his legs like a normal person but this all didn't matter
it was the care and compassion that FDR showed as America's leader during the
Depression that made him an enduring figure in the hearts of Americans as a
cotton mill worker who was helped by the New Deal once said I do think that
Roosevelt is the biggest hearted man we have ever had in the White House the
next legacy of the New Deal his FDR's wife herself Eleanor Roosevelt Eleanor
Roosevelt revolutionized the role of first lady she became deeply involved in
her husband's presidency setting a precedent for
day ellinor traveled the country for FDR reporting back on the conditions of the
Great Depression and the effects of the New Deal she advocated for women kids
and minorities and urged him to take a stand on tough issues her advice helped
lead to the appointment of the first woman cabinet member of Frances Perkins
as Secretary of Labor more popular at times in FDR her legacy is of action and
humanitarianism the third legacy of the New Deal is deficit spending deficit
spending is when the government spends more money than it brings in in tax
revenue the US has always spent in deficit but deficit spending has
increased since the New Deal programs FDR hated deficit spending but to him it
was a necessary evil that had to be used in order to revive the economy during
the New Deal years the government spent to create jobs which ideally would be
paid for in taxes on new income earned by workers while deficit spending does
increase the national debt this graph shows that the increases in deficit
spending during the New Deal years ultimately led to creation of more jobs
and a decrease in the unemployment rate several modern presidents have spent and
deficit in order to spur economic recovery Ronald Reagan George W Bush and
Barack Obama have all used fiscal stimulus plans in order to spur economic
recovery in times of economic recession and have spent in deficit to do so the
next legacy of the New Deal is financial regulation many New Deal programs
protect your money and investments today today the FDIC ensures any money in the
bank and provides peace of mind if banks were to collapse today you would get
your money back through the federal government in addition the SEC police's
the stock market so it's a fair game when you invest in the market it's not
rigged against you and you're not cheated in 2004 the SEC investigated
Martha Stewart for insider trading she was arrested and thrown in jail this is
just one example but the SEC does to protect investors another example is in
1999 the glass-steagall Act was repealed without its oversight of banks and
financial institutions the financial sector collapsed within eight years the
fifth lasting legacy of the New Deal is the New Deal coalition FDR's policies
led to the creation of the New Deal coalition in the 1930s this group
included southern whites a Americans and labor unions who supported
New Deal programs because of FDR in the New Deal the Democratic Party became the
champion of these groups and their causes except for southern whites who
predominantly vote Republican today this group which has now made up of labor
unions and minorities solidly vote for Democratic candidates today even some
modern prominent Republicans began as supporters of the New Deal
for example Ronald Reagan was a New Deal Democrat until the turmoil the 1960s
drove him away towards the Republican Party the final and perhaps the biggest
legacy of FDR's New Deal was a Social Security system in the Social Security
system workers pay into a trust fund monthly that pays out to retirees over
65 years old Social Security has been a part of every
retirement plan for 70 years it has allowed the elderly to retire easier and
help the unemployed survive daily however Social Security has become the
largest government expenditure in the federal budget the number of retirees is
exceeding the number of contributors and over the years the government has
borrowed from a social security fund in order to pay for other government
programs this has caused its funds to run low and his future is in danger the
New Deal fundamentally changed the way that Americans thought about their
government and the role of government in Americans lives before the New Deal
government took more of a hands-off approach to the economy but the New Deal
was a turning point every time you deposit your money in a
bank and every time you use your social security number and every time you drive
over a bridge or a road that was constructed during the New Deal you are
experiencing the change in government's role in American society
here itself