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(The New Deal) Was a series of federal programs, public work projects,…
(The New Deal) Was a series of federal programs, public work projects, financial reforms, and regulations enacted in the United States enacted in the 1930s in response to the great depression.
Public work projects
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1935 National Youth Administration (NYA) Provided job training for unemployed young people and part-time jobs for needy students.
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Financial reform
1933 Glass-Steagall Act Created the Federal Deposit Insurance Corporation (FDIC), which protected bank deposits up to $5,000, thus reassuring the Americans that their money was safe.
1934 Securities and Exchange Commission (SEC) Supervised the stock market and eliminated dishonest practices.
1933 Emergency Banking Relief Act (EBRA) Roosevelt declared a bank holiday and closed down all the banks to be inspected. Those that were considered stable could reopen while others that were in financial crisis would remained closed or they could obtained loans if necessary.
Regulations
1938 Fair Labor Standards Act. Established a minimum hourly wage and a maximum nmber of hours in the workweek for the entire country. Set rules for the employment of workers under 16 and banned hazardous factory work for those under 18
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1938 Food, Drug and Cosmetic Act (FDC) Required manufacturers to list ingredients in foods, drugs, and cosmetic products.
Federal programs
The Social Security Administration has three parts:
-Old age insurance for retirees 65 or older and their spouses: The insurance was a supplemental retirement plan. Half of their funds came from the worker and half from the employer. Although some groups were excluded from the system, it helped to make retirement comfortable for many Americans
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-Unemployment Compensation System: The unemployment system was funded by a federal tax on employers. It was administered at the state level and the initial payments ranged from $15~$18 a week. -Aid to families with dependent children and the disabled. The aid was paid for by federal funds made available to the states
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