Franklin Roosevelt's Second New Deal

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Historians separate the years that Franklin Roosevelt was President into two divisions consists of the “First New Deal” and “Second New Deal”. The First New Deal was a time when the economy was recovering from the collision of the Depression. The Second New Deal was a time of reform that consisted of the administrating wanting to regulate changes that would be long-term and effective to the nation’s economy. The initiating point of the Second New Deal was when President Roosevelt signed the Social Security Act in 1935. The Committee on Economic Security (CES) was created in order for this panel to analyze the problem and design a solution. By the end of the year in 1934, The Committee on Economic Security had designed a proposal for legislative and the President submitted this proposal to Congress in January1935, it was signed into law 8 months later after being debated in the two houses. The debates were regarding two issues, which consisted of the programs financing, and whether employers should be able to voluntarily participate. It was President Roosevelt who ultimately decided that the program should be self-supporting in which its financing derive …show more content…

For that reason, some pension systems make an appropriate allocation to support the early program participants. This appropriate allocation is thought to be the principal of the system in its entirety. The benefits that individuals would be receiving should be sufficient and reasonable. The benefits should be sufficient enough for beneficiaries to be accommodated with economic security. In addition, the benefits should be reasonable enough such that beneficiaries receive a benefit amount depending on their contribution. If an individual has contributed a high amount, they would receive a high

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