Government programs consolidating debt
Assistant Attorney General Thurman Arnold led efforts that hearkened back to an anti-monopoly tradition rooted in American politics by figures such as Andrew Jackson and Thomas Jefferson.Supreme Court Justice Louis Brandeis, an influential adviser to many New Dealers, argued that "bigness" (referring, presumably, to corporations) was a negative economic force, producing waste and inefficiency.The New Deal regulation of banking (Glass–Steagall Act) lasted until it was suspended in the 1990s. Those operating under the original names include the Federal Deposit Insurance Corporation (FDIC), the Federal Crop Insurance Corporation (FCIC), the Federal Housing Administration (FHA), and the Tennessee Valley Authority (TVA).The largest programs still in existence today are the Social Security System and the Securities and Exchange Commission (SEC).The New Deal produced a political realignment, making the Democratic Party the majority (as well as the party that held the White House for seven out of the nine Presidential terms from 1933-69) with its base in liberal ideas, the South, traditional Democrats, big city machines, and the newly empowered labor unions and ethnic minorities.The Republicans were split, with conservatives opposing the entire New Deal as an alleged enemy of business and growth, and liberals accepting some of it and promising to make it more efficient.
The Securities Act of 1933 was enacted to prevent a repeated stock market crash.Roosevelt turned his attention to the war effort, and won reelection in 1940-44.The Supreme Court declared the National Recovery Administration (NRA) and the first version of the Agricultural Adjustment Act (AAA) unconstitutional, however the AAA was rewritten and then upheld. Eisenhower (1953–61) left the New Deal largely intact, even expanding it in some areas. Johnson's Great Society used the New Deal as inspiration for a dramatic expansion of liberal programs, which Republican Richard M. After 1974, however, the call for deregulation of the economy gained bipartisan support.Most programs were enacted between 1933–38, though some were later.
They included both laws passed by Congress as well as presidential executive orders, most during the first term of the Presidency of Franklin D. The programs focused on what historians refer to as the "3 Rs": relief for the unemployed and poor, recovery of the economy back to normal levels, and reform of the financial system to prevent a repeat depression.Some of these federal programs included the CCC, the CWA, the FSA, the NIRA, and the SSA.