The Great Depression
people during the Great Depression
During the 1930s, many events happened in America. One of the most important events that happened was the Great Depression. The Great Depression started in 1929 and ended in about 1939. It started because of the Stock Market Crash of 1929.
The Great Depression had affected many people’s life. The Great Depression caused many banks to collapse, more unemployed workers, stock markets to drop, and the Gross Domestic Product (GDP) to drop a lot. It also led to many market crashes. Then in 1933, Franklin D. Roosevelt, who was the new president at the time, said he would make the New Deal. He said the New Deal would help cure the Great Depression.
Soon, by 1935 things had gotten a little better. Production and prices had increased. However this didn’t end the Great Depression. This was when FDR passed the Second New Deal. The Second New Deal said it would help restore the economy. The Great Depression had been a time of horror to many Americans. However many people helped the nation rise back to its feet.
The Social Security Act
FDR signing the Social Security Act
In the 1930s, Franklin D. Roosevelt sent a request to the Congress asking for a “social security act”. The Social Security Act was an attempt to protect people from another economic disaster like the Great Depression. In the August of 1935, Franklin D. Roosevelt signed the Social Security Act. This act was part of the New Deal.
The Social Security Act was a solution for seniors and their incomes. The Social Security Act also supported people who were disabled and many children. It also helped many families with its health programs. However, as time passed, the Social Security Act expanded. The Act went from supporting workers to women and men.
In 1935, when the act was made by Franklin D. Roosevelt, it was only meant for workers who were retired. It would provide them with health cares and other programs. Then in 1939, the programs started to help many children. However during this time the tax percent was all the way up to 4.0. Then the Social Security Act went all the way up to helping men and woman. The SS Act has helped many Americans throughout life!
