During the Great Depression, the United States faced several challenges:
1. High debt: The country experienced significant levels of debt due to economic struggles and decreased revenue from businesses and individuals.
2. High unemployment: A major challenge was the widespread job loss across various sectors of the economy, leading to high unemployment rates and financial hardship for many families.
3. A decline in the value of money and goods: The value of both currency and goods decreased during this time, leading to deflation and making it harder for people to afford basic necessities.
4. Failures of businesses and banks: Many businesses and banks collapsed during the Great Depression, causing widespread economic turmoil and loss of confidence in the financial system.
These challenges combined to create a severe economic crisis that impacted the lives of millions of Americans and shaped the country's economic policies for years to come.
