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- Thank you so much! Now I have a job.
- We can do this!!
- Franklin Delano Roosevelt grew up in Hyde Park, New York. He went to Harvard and then to Columbia Law School. He liked to be in control and being around people. His charming personality, deep rich voice, and wide smile expressed confidence and optimism. In 1921 he caught the dreaded paralyzing disease polio. Although there was no cure, Roosevelt refused to give in. Americans saw in him an energy and optimism that gave them hope despite the tough economic times. After Roosevelt became president, his serenity and confidence amazed people.
- By the day of Roosevelt’s inauguration, most of the nation’s banks were closed and one in four workers was unemployed. Roosevelt knew he had to restore the nation’s confidence. Roosevelt sent bill after bill to Congress when he got into office. Between March 9 and June 16, 1933 (later called the Hundred Days) Congress passed 15 major acts to resolve the economic crisis. These programs made up what would be called the First New Deal. Although the First New Deal did not restore the economy completely, it reflected Roosevelt’s zeal for action and his willingness to experiment. Banks were reopened, many more people retained their homes and farms, and more people were employed. His actions inspired hope and restored Americans’ faith and spirit. When one aide commented on his attitude, Roosevelt replied, “If you had spent two years in bed trying to wiggle your big toe, after that anything else would seem easy.”
- He believed in Keynesian (“pump-priming”) economics where money would be invested in the people, the working class. This caused spending to increase which made businesses expected to expand to meet the new demand and hire new workers. This was the opposite of the Republican plan made by Hoover. He believed in “trickle-down” economics. This thinking was that money was to be invested at the top, in business. Which then caused the business to expand, hire new workers, and grow the economy.
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