In Rauchway’s book, chapter 4 titled “Reflation and Relief” pointed out many of the futuristic plans of Franklin Delano Roosevelt when he was trying to collapse the brutal economic crisis of the Great Depression. The Great Depression took place in 1933 and right in the middle of World War 1 and World War 2. The stock market crash that happened in 1929 was the result of almost an entire decade of economic success in the United States. Franklin D. Roosevelt took oath as President in 1933 and was determined to put everything back in its place. He produced a series of acts and plans called the New Deal Act which was Roosevelt’s way of fixing the crisis along with his administration. One of the targets made by the New Deal Act was the rise of unemployment and people struggling to stay on their feet. The Civilian Conservation Corps or the CCC was created to provide new work opportunities for men between the ages of 18 and 35. Since there were a lot of fires and floods, their job was to preserve the nation’s forest life as well as repair broken roads, bridges, and other damaged resources. Providing these opportunities helped men earn more money and keep the overall economy somewhat in better shape.
Another upside of Roosevelt’s New Deal Act is that it provided security for people’s money inside banks. The Federal Deposit Insurance Corporation (FDIC). Any savings from local residents would be saved by the federal government. Although President Roosevelt himself had some doubts about all the banks losing the money, he still went with the plan. Contrary to his disbeliefs, FDIC reduced the number of bank failures as Rauchway put it on page 2 of the chapter, “The president worried that the government would one day find itself forced to pay out too large a sum for failed banks, but he accepted the plan…FDIC bank failures dropped by an order of magnitude”. Roosevelt held a radio talk called the “fireside chat”, which is an event held by himself to explain his plans of reform to the larger masses. Ironically as he was assuring the voters, he knew he was steering away from having more money in the economy.
While President Roosevelt had many great ideas for reform and relief in the U.S economy, not all of his ideas came to reality. FDR feared that his administration would need to inflate U.S currency so that he could still be able to prove a rise in economic stability. It’s important to connect these ideas to today where we are in the midst of a global pandemic known as COVID-19. Our former President, Mr. Donald Trump did not act rapidly to put a stop to the everlasting growth of cases around the United States as well as other countries. The Trump administration did not close down local transportation or air travel quickly enough. Had they done so in a timely manner, we would be a little safer, to say the least. After the lackadaisical efforts of President Trump, current President Joe Biden had been elected to fix the already done damage. While they have fixed a significant number of pre-existing problems, there are still a lot of problems that have not been fixed or have gotten worse since he was elected. Therefore, President Franklin D. Roosevelt’s situation is similar to the current one as they both aimed to find new ways problems within the U.S government.