Skip to main content

What part of FDR's Second New Deal provided retirement insurance to people over 65 years old?

The part of President Franklin D. Roosevelt’s Second New Deal that provided retirement insurance to people over 65 years of age is called Social Security.  This is a very famous program that continues to exist to this day.


One thing that President Roosevelt wanted to do with the New Deal was to set the US economy up in such a way that there could never be another terrible economic downturn like the Great Depression.  Social...

The part of President Franklin D. Roosevelt’s Second New Deal that provided retirement insurance to people over 65 years of age is called Social Security.  This is a very famous program that continues to exist to this day.


One thing that President Roosevelt wanted to do with the New Deal was to set the US economy up in such a way that there could never be another terrible economic downturn like the Great Depression.  Social Security was one part of this effort.  Social Security would help prevent depressions because it would make sure that elderly people had money to live on.  If retired people were spending their Social Security money on things like food and clothes, it would help keep the economy strong.


Of course, Social Security was also meant as something of a humanitarian program.  Before Social Security, there was no government program to ensure that retired people had any money to live on.  People had to save for themselves while they worked and/or they had to rely on support from their children when they grew too old to work.  Social Security was meant to ensure that retired people would not sink into poverty if they had not been able to save or if they did not have family who could support them.


For these reasons, President Roosevelt backed the idea of Social Security.  A bill was passed creating the program and Roosevelt signed it into law on August 14, 1935.  While the program has some problems, it continues to exist today and many Americans rely on it for their retirements.

Comments

Post a Comment

Popular posts from this blog

What is hyperbole in the story "The Gift of the Magi" by O. Henry?

The most obvious use of hyperbole in "The Gift of the Magi" occurs when the narrator describes Della's and Jim's evaluations of their two treasures—her long, luxuriant hair and his gold watch. Had the Queen of Sheba lived in the flat across the airshaft, Della would have let her hair hang out the window some day to dry just to depreciate Her Majesty's jewels and gifts. Had King Solomon been the janitor, with all his... The most obvious use of hyperbole in "The Gift of the Magi" occurs when the narrator describes Della's and Jim's evaluations of their two treasures—her long, luxuriant hair and his gold watch. Had the Queen of Sheba lived in the flat across the airshaft, Della would have let her hair hang out the window some day to dry just to depreciate Her Majesty's jewels and gifts. Had King Solomon been the janitor, with all his treasures piled up in the basement, Jim would have pulled out his watch every time he passed, just to see him plu
Post a Comment
Read more

What are some literary devices in Macbeth, Act V, Scene 1?

Act V, Scene i of Macbeth certainly continues the imagery that is prevalent in the play with its phantasmagoric realm, as in this scene a succession of things are seen or imagined by Lady Macbeth. Imagery - The representation of sensory experience Lady Macbeth imagines that she sees bloody spots (visual imagery) on the stairs; she also smells blood (olfactory imagery): Here's the smell of the blood still. All the perfumes of Arabia will not... Act V, Scene i of Macbeth certainly continues the imagery that is prevalent in the play with its phantasmagoric realm, as in this scene a succession of things are seen or imagined by Lady Macbeth. Imagery - The representation of sensory experience Lady Macbeth imagines that she sees bloody spots (visual imagery) on the stairs; she also smells blood (olfactory imagery): Here's the smell of the blood still. All the perfumes of Arabia will not sweeten this little hand. Oh! oh, oh! (5.1.53-55) Hyperbole - Obvious exaggeration  There is also h
Post a Comment
Read more

How can I analyze Moon and Six Pence by Somerset Maugham?

In "Moon and Sixpence," loosely based on the life of Paul Gaugin, Maugham presents a study of the tension between the "civilized" life of 19th century Europe, and the lead character's desire to throw off the shackles of bourgeois life. Charles Strickland is a middle-aged English stockbroker with a wife and family. By abandoning his domestic life, Strickland commits what many in European society would consider a gross betrayal of one of the foundations of... In "Moon and Sixpence," loosely based on the life of Paul Gaugin, Maugham presents a study of the tension between the "civilized" life of 19th century Europe, and the lead character's desire to throw off the shackles of bourgeois life. Charles Strickland is a middle-aged English stockbroker with a wife and family. By abandoning his domestic life, Strickland commits what many in European society would consider a gross betrayal of one of the foundations of that society. His decision to e
Post a Comment
Read more