Essay On Franklin D Roosevelt's Impact On The Economy

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President Roosevelt’s policies and their impact on the economy during the Depression In 1928 American GNP was $100 billion. When in the middle of the worsening economic conditions in the country President Roosevelt became the 32nd President of the United States of America, took immediate action in addressing the economic woes of the country. By that time DNP of America was only $55 billion, which is practically twice as less as it was 5 years ago. Franklin Delano Roosevelt was born on 30 January, 1882 in New York, The United States of America. He is the only president of the U.S. who has been elected president four times. He led his country through the Great Depression and the World War II, and expended the government power though a series of policies known to people as the New Deal. With the help of Roosevelt, GNP increased back to $85 billion in 1939. Unemployment As soon as he became president in 1932, he announced a four-day “bank holiday.” During this period, all the banks were closed as the Congress was passing reform legislation and reopening the banks. In addition, Roosevelt understood that country is in a very bad economic situation, and one of his first actions as president was to urge Congress to reduce federal expenditures by $500 million, in order, he said, to save the country form bankruptcy. Roosevelt also took the initiative of addressing the public directly over the radio that played a significant role in restoring public confidence. The first problem he took care of was the problem of unemployment. The unemployment that happened in America at that time was…show more content…
This decrease is shown on the graph below. It shows how the rate of unemployment decreased in 1925-1941. Such a big time period is taken to show the difference in unemployment rate before and during the Great
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