The Great Depression and New Deal

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Herbert Hoover

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Republican President from 1929-1933 at the start of the great Depression, he believed in rugged individualism. He had the key principle that the only way the economy will fix itself is by the people helping themselves, not getting help from the government. Hoovers attempt at fixing the the Great Depression, many Americans continued to suffer from the depression, and put the blame on their suffrage on Hoover.

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Terms in this set (49)

Herbert Hoover

Franklin D. Roosevelt(FDR)

Democratic President from 1933 to 1945, he believed in that the government will help the people to fix the economy, he created the "New Deal Plan", that created relief, recovery, and reform, to the economy, people, market, banks, and stocks. While Hoover wanted a balanced budget, FDR created a deficit spending, this is what allowed the New Deal to be funded. The New Deal by FDR was the first time that programs were funded and created by the US Government, and the government started to give aid to the people. This is what made FDR the "great" president he is to this day.

Bonus Army

Group of WWI vets. that marched to D.C. in 1932 to demand the immediate payment of their goverment war bonuses in cash.

Overproduction

Overproduction is the creation of too many of 1 product and the market is not willing to buy the product, thus creating a over production of the product, and creating an unbalance between supply and demand.

Collapse of the Global Economy

Tax on imports raised the cost the cost of foreign goods for Americans, and for tariffs ended world trade between countries