Great Depression in United States

The next presidential election we got a new president, Franklin D. Roosevelt. By March 4, 1933, Inauguration Day, all of the U.S. states had ordered the remaining banks to close. FDR was calm and showed optimism, famously declaring that "the only thing we have to fear is fear itself." Roosevelt wanted to improve the financial system, so he created the Federal Deposit Insurance Corporation (FDIC) and Exchange Commission (SEC).

The Great Depression started in the United States soon after the stock market crash of October 1929. The current president of the United States, Herbert Hoover, believed that the government shouldn’t directly intervene in the economy or it didn’t have the responsibility to create jobs for people. In 1932, 13-15 million people in the United States were unemployed.

The Great Depression in the United States

President Herbert Hoover

The New Deal had many programs within it that helped that the recovery of the United States. A few of those programs were Tennessee Valley Authority (TVA), which built dams to control flooding and provide electric power to the Tennessee Valley region, and the Works Project Administration (WPA), a program that employed 8.5 million people from 1935 to 1943. When the Japanese attacked Pearl Harbor it led the factories in the United States to go into full production mode, which brought the end of the Great Depression in the U.S.