Certainly! Below is a clear and concise explanation of the New Deal Programs:
a. Social Security:
Social Security is a federal program established to provide financial assistance to retired workers, as well as the disabled and their survivors. Workers and employers contribute to the Social Security fund through payroll taxes. When individuals reach retirement age, they are eligible to receive monthly benefits based on their earnings history. This program was created in 1935 under President Franklin D. Roosevelt as part of the New Deal to address economic security for Americans during times of hardship.
b. Federal Deposit Insurance Corporation (FDIC):
The FDIC is a government agency that insures deposits in banks up to a certain amount to protect depositors in case a bank fails. This program was established in 1933 under the New Deal to restore confidence in the banking system after the Great Depression. The FDIC helps maintain stability in the financial system by providing a safety net for depositors, encouraging people to keep their money in banks.
c. Securities and Exchange Commission (SEC):
The SEC is a regulatory agency created in 1934 as part of the New Deal to oversee and enforce federal securities laws and regulations. Its primary goal is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The SEC regulates the securities industry, enforces securities laws, and ensures that investors have access to accurate and relevant information about securities being offered for sale.
