New Deal Programs


Works Progress Administration

The WPA, part of Roosevelt's Second New Deal, spent nearly $11 billion by hiring 8.5 million workers in the construction department. It also created a program for artists, musicians, theater majors, and writers, which gave them jobs as well.

This program was a major factor in how America rose out of its poverty in the 1930s. It provided unemployed Americans with jobs so they could feed their families, provide shelter, and pay for all of their utilities.

The Home Owners' Loan Corporation

Home owners loan corporation was a relief program. HOLC helped homeowners make their mortgage payments. Roosevelt asked congress to establish the HOLC. The HOLC bought mortgages of many homeowners who were behind on their payments, it then restructures them with longer terms of repayment and lower interest rates, roughly 10% of homeowners received HOLC loans did not help everyone, it made loans only to homeowners who were not farm owners and who were still employed.

HOLC, although it failed in some aspects, eventually helped refinance one out of every five mortgages in the United States, not farm related.

Social Security Act

President Roosevelt worked hard to create the Social Security Act which provides monthly retirement benefits and help to those who are unable to wo

Thanks to Roosevelt and the Social Security Act, many older Americans can relax and enjoy their retired years.


Federal Deposit Insurance Corporation (FDIC)

Roosevelt set up this company to protect depositors and banks from losing money to encourage people to make loans and set up deposits in banks.

The FDIC provides governmental insurance of deposits in banks up to certain amount of money in case bank got robbed, stock market dives or bank bankrupts. This corporation was able to replace deposits up to $250,000. It Greatly increased public confidence in banking system.

Securities' Exchange Act

The SEC was enacted to regulate the stock market and prevent fraud, a main cause of America's fall into a depression.

As seen in the above letter from Harry Fein, the SEC was widely supported, and led to smarter investing for citizens of the U.S. for years to come.

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