New Deal Review – Flashcards
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Who did the Glass-Steagal Act help?
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All who put money in banks, banks itself
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What did the Glass-Steagall Act do?
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Established FDIC, require banks to be cautious w/ money
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Short term effects of Glass-Steagall Act
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Provide insurance for savings, attempt to restore faith in banks
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Who did the Federal Securities Act help?
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Corporations and stock purchasers
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What did the Federal Securities Act do?
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required truth in stock info
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What does AAA stand for?
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Agricultural Adjustment Act
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Who did the AAA help?
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Farmers
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What did the AAA do?
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reduced production of farms to boost prices, pay farmers to destroy crops
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What were the short term effects of the AAA?
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Create upheaval due to starvation and destroy food supply, help raise farm prices, money to farmers
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What were the long term effects of the AAA?
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Unconstitutional, HATED that people were starving and farmers paid to destroy their crops
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What does CCC stand for?
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Civilian Conservation Corps
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Who did the CCC help?
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Men 18-25
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What did the CCC do?
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Paid young men wages $30($25 sent directly home) to make parks, plant trees, bld public works
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What were the short term effects of the CCC?
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Put 3 million men to work from 1933-1942, 800 state parks, 46,000 bridges relief to family
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What were the long term effects of the CCC?
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Taught many to live on own, increase self esteem, This type of program exists today as the NCCC
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What does NIRA stand for?
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National Industrial Recovery Act
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Who did the NIRA help?
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Industry/workers
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What did the NIRA do?
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set up PWA for construction mgmt, NRA for fair practices, trade unions bargaining rights
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What were the short term effects of the NIRA?
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won gains as individual programs, legal standing to unions saw increase in membership "We do our part"
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What were the long term effects of the NIRA?
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Unconstitutional in 1935
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What does NRA stand for?
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National Recovery Act
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Who did the NRA help?
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Industry/workers
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What did the NRA do?
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fair practices, wages, hours, child labor laws
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What were the short term effects of the NRA?
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16 million covered, outlaw child labor, 8 hour day, $1.25 min. wage
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What were the long term effects of the NRA?
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1935 unconstitutional
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What does CWA stand for?
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Civil Works Administration
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Who did the CWA help?
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Men to work, all benefit
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What did the CWA do?
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provide temporary jobs
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What were the short term effects of the CWA?
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4 million employed raking leaves, shoveling snow, working in nat'l parks
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What were the long term effects of the CWA?
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critics complained just "made work" ended in 1934, spent $740 million, boost both psych & phy to 4 million
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What does PWA stand for?
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Public Works Administration
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Who did the PWA help?
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Men to work, all benefit
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What did the PWA do?
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Money to states to create jobs mainly in construction
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What were the short term effects of the PWA?
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build schools and community building but didn't put enough people to work
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What were the long term effects of the PWA?
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1935 unconstitutional
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What does HOLC stand for?
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Home Owners Loan Corporation
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Who did the HOLC help?
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Home owners
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What did the HOLC do?
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Loan money to home owners to make mortgage payments
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What were the short term effects of the HOLC?
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provide 1 million homeowners with help on taxes, mortgages, and repairs
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What were the long term effects of the HOLC?
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dismantled in 1936
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What does FERA stand for?
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Federal Emergency Relief Administration
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Who did the FERA help?
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States
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What did the FERA do?
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To help states provide employment
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What were the short term effects of the FERA?
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$500 million given quick relief, 1/2 direct relief immediately, matched $1Fed:$3state ratio
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What were the long term effects of the FERA?
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revitalized many programs that were failing
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What does TVA stand for?
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Tennessee Valley Authority
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Who did the TVA help?
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Residents of Tennessee Valley
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What did the TVA do?
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Develop Tennesse River Valley
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What were the short term effects of the TVA?
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Provide cheap electric, flood control, jobs
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What were the long term effects of the TVA?
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Help 7 states, still in use today providing cheap electric
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What does EBRA stand for?
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Emergency Banking Relief Act
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Who did the EBRA help?
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Banks
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What did the EBRA do?
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Evaluate banks by Treasury Dept. to ensure safe to reopen
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What were the short term effects of the EBRA?
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Ensured that only banks that could last would be reopened, cut down on bank failures
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What were the long term effects of the EBRA?
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Helped restore confidence in the banks
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What does SEC stand for?
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Securities and Exchange Commission
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Who did the SEC help?
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Corporations, stock holders
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What did the SEC do?
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regulate stock market
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What were the short term effects of the SEC?
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prevent insiders rigging stock, monitor required disclosures
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What were the long term effects of the SEC?
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Hurt use of holding companies, provide more truthful information regarding stock and worth
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What was the program name for the Wagner Act?
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National Labor Relations Board
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What did the Wagner Act/NLRB do?
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Establish National Labor Relations Board to guarantee rights concerning unions
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What were the short term effects of the Wagner Act/NLRB?
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right to join unions and collectively bargain, define unfair practices, reorganize business if 50%+ in union
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What were the long term effects of the Wagner Act/NLRB?
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upheld by Supreme Court in 1937
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Who did the Banking Act of 1935 help?
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banks
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What did the Banking Act of 1935 do?
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Create board to regulate money supply and interest rates
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What were the short term effects of the Banking Act of 1935?
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increased the powers given in FDIC
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What does WPA stand for?
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Works Projects Administration
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Who did the WPA help?
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Artists, writers, men
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What did the WPA do?
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provide employment to other skilled people for government projects as well as general construction.
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What were the short term effects of the WPA?
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government brochures, murals, as well as airfields, schools, post offices
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What were the long term effects of the WPA?
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terminated in 1943, spent $11 billion employed 8 1/2 million, 1,410,000 projects
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What does NYA stand for?
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National Youth Administration
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Who did the NYA help?
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young people, students
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What did the NYA do?
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provide part time employment for needy students, job training for young
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What were the short term effects of the NYA?
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Provided employment and training for those in need
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What were the long term effects of the NYA?
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part of WPA project, employed 700,000 students 16-25
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What does FDC stand for?
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Food Drug Cosmetic
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Who did the FDC help?
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consumers
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What did the FDC do?
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companies must disclose ingredients in foods, drugs, and cosmetics
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What were the short term effects of the FDC?
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know what is in products, prevent traveling "pharmacists" and peddlers of harmful products
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What were the long term effects of the FDC?
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strengthened the FDA
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What does FHA stand for?
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Federal Housing Administration, set up by National Housing Act 1934
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Who did the FHA help?
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homeowners
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What did the FHA do?
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to insure home mortgages
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What were the short term effects of the FHA?
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20% down, 20 year mortgage, construction standards
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What were the long term effects of the FHA?
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still have it in effect today, effort to prevent homelessness, create pride in home ownership
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Who did the Fair Labor Standards Act help?
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workers
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What did the Fair Labor Standards Act do?
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banned child labor laws and set a minimum wage
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What were the short term effects of the Fair Labor Standards Act?
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allowed for better wages and prevented children from taking jobs from adults
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What were the long term effects of the Fair Labor Standards Act?
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replacement of NIRA in many features
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Who did the SS Act help?
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Women with children, disabled, old age, victims of industrial accidents, unemployment ins.
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What did the SS do?
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Provide income to those who qualify-basically help those who "shouldn't" or "can't" be in workforce
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What were the short term effects of the SS Act?
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Provide millions with income, provide security, didn't help domestic or farm workers initially, mandatory to contribute
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What were the long term effects of the SS Act?
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still exists however increase in recipients w/o increase in put in and decline in number putting in
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What does REA stand for?
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Rural Electrification Administration
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What did the REA do?
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electric to rural areas, encourage farmers to use labor saving elec. Appliances
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Who did the REA help?
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rural areas, farmers
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What were the short term effects of the REA?
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promote use of cheap electric, 30% increase of electric between '35-'41, 90% by 1950
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What were the long term effects of the REA?
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Still in effect today, like TVA, loans used in 1993 to make ski resorts in Vail, CO
