Final answer:
The New Deal policies led to long-term benefits such as the establishment of Social Security and banking regulations, the acceptance of deficit spending, and a shift in societal expectations about the government's role in economic welfare.
Step-by-step explanation:
One of the long-term benefits of New Deal policies was the establishment of social safety nets and financial regulations, including the Social Security system and banking regulations. These measures have remained vital components of the nation's economic framework.
The Social Security Administration, established in 1935, continues to provide retirement, disability, and survivors' benefits to millions of Americans, representing a critical source of economic security. In addition, the Federal Deposit Insurance Corporation (FDIC), created in 1933, gave bank depositors confidence that their money was secure, thus stabilizing the financial system.
Another legacy of the New Deal was the acceptance of deficit spending and the concept that the government bears some responsibility for the economic well-being of its citizens. These principles have underpinned fiscal policy since the New Deal era. The increased role of the federal government and the establishment of a welfare state reflected a profound shift in societal expectations about the government's role in providing a social safety net.