how did the social security act of 1935 help during The Great Depression?

Answer 1

HS History Teacher here. The Social Security Act helped by aiding the largest group of poor people at the time: old people. Here you had a segment of the population that was too old to work, and had no other means to support themselves. Remember that a lot of them had lost their life savings in the stock market crash and/or the bank runs and failures that ensued. Therefore, a lot of them were destitute. Social Security gave them a monthly pension so that they would be guaranteed income to live off of. Hence, you had a segment of the population that was getting money and then turning around and spending it to live, which increased the amount of money in the economy, spurred businesses to increase production, and in doing so, also got them to hire them more people, which in turn meant more people with money who would spend it, thus creating a nice upward economic cycle. It was not meant as a short-term program, but a perpetual one. Workers now would be taxed (along with employers) and that money would go to the current seniors, and when they retired, they would be taken care of by the next generations of workers.

Answer 2

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Answer 3

The social security act/New Deal was designed to be a short term (35 year) program to help Americans get back on their feet by providing meaningful work for a small wage. The concept of welfare and charity was not widely accepted for the times and often families would choose all means possible to survive over accepting a handout. The New Deal was actually an effective way to package and market "welfare" to the masses in an effort to rebuild the nation. We will never truly know if IT helped the country or if the economy and nation rebounded merely as a result of WWII.

Answer 4

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Answer 7

This statute provided for a federal program of old-age retirement benefits and a joint federal-state venture of Unemployment Compensation. In addition, it dispensed federal funds to aid the development at the state level of such programs as vocational rehabilitation, public health services, and child welfare services, along with assistance to the elderly and the handicapped.

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