Question

The New Deal consisted of numerous sweeping reforms and the creation of programs, including the Glass-Steagall Banking Reform Act, work programs such as the Civil Works Administration and Works Progress Administration, the Agricultural Adjustment Administration, and Social Security. Pick at least two (2) of these initiatives, explain them, and state their significance.

Answer 1

The Glass-Steagall Banking Reform Act and the Social Security Administration were two significant initiatives of the New Deal. The Banking Act of 1933 established the FDIC to protect bank deposits, restoring confidence in the banking system. The Social Security Administration introduced a pension program for retired workers, providing financial support to the elderly.

Step-by-step explanation:

Two significant initiatives of the New Deal were the Glass-Steagall Banking Reform Act and the Social Security Administration.

The Glass-Steagall Banking Reform Act, also known as the Banking Act of 1933, aimed to restore confidence in the banking system after the Great Depression. It established the Federal Deposit Insurance Corporation (FDIC), which insured bank deposits and protected them from loss. This reassured Americans that their money was safe and helped stabilize the banking industry.

The Social Security Administration, created in 1935, introduced an old-age pension program for retired workers. This program provided financial support to elderly individuals who were no longer able to work, helping alleviate poverty among the elderly population. Social Security remains an important part of the social safety net in the United States, providing retirement benefits to millions of Americans.