The New Deal - America's Original Bailout Plan

Historically Speaking Podcast

In 1932, a newly minted phrase was on the lips of most Americans… “The New Deal.” It was first uttered by Franklin D. Roosevelt to an audience in Chicago during his acceptance speech for the Democratic nomination for President. It would soon become an American phenomenon and the largest governmental spending plan to date. Its intention – to put Americans back to work and revive the economy following a depression unleashed by the stock market crash of 1929. It was hailed as a huge success and won FDR the Presidency in 1932, 1936, 1940 and 1944. But, was it really as successful as everyone lauded it to be? Did it really pull America out of the Great Depression? History is somewhat divided on this topic, after all, hindsight is 2020. So, why is history repeating itself in 2021 with Covid Relief which is now the largest government spending/American bailout plan to date? We discuss it here in Episode 21 so you can decide for yourself.

Books

• The Age of Roosevelt (3 Vols.) by Arthur Schlesinger, Jr
• Franklin D. Roosevelt and The New Deal by William E. Leuchtenburg
• FDR’s Folly: How Roosevelt and His New Deal Prolonged the Great Depression by Jim Powell
• A History of the American People by Paul Johnson

Documentary

• The Roosevelts (2014) by Ken Burns