¶ … New Deal documents and analyzes it in the context of accounting. It has 3 sources.
Due to the Stock Market Crash in 1929 and the global depression that followed suit, U.S. industrial output fell 54% and there was 25-30% unemployment. In 1932, Franklin Delano Roosevelt was elected president and he drastically changed the course of U.S. economics and politics by introducing strong government regulation and a package of massive public works projects called the "New Deal." These were meant to re-employ Americans and to build a more modern infrastructure. Following are three sources for the New Deal.
The first source is an article written by Abraham Epstein in 1935 for The Nation. He wrote that the social-security bill was with signed by the President on August 14 with a great deal of publicity surrounding it. However, the issues it was meant to cover and the public opinion regarding it was most uncertain. He generally speaks about the fact that President Roosevelt's speech regarding this act and the resultant approval and applause was simply 'too good to be true'. His initial hunch proved true as some time after the announcement of the Act, the house of cards started to collapse. For it turned out that the President himself was confused about what exactly this Act was supposed to do. The country...
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