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Period: to
1934-1954 Timeline
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Dust Bowl begins
The entire agricultural economy crashed and farmers weren’t able to yield crops due to the dust. -
Reciprocal Trade Agreements Act
This affected the economy because it resulted in a reduction of duties. -
FDR creates Committee on Economic Security to address old-age and unemployment issues, as well as medical care and insurance.
Provided economic security and created social insurance. It was the groundwork of the Social Security Act. -
Change in GNP and unemployment
The economy turns around: GNP rises 7.7 percent, and unemployment falls to 21.7 percent. This is affecting the economy in a positive way because we want the GNP of our country to rise because it means we have more value. This is also affecting the economy in a positive way because the unemployment rate is falling and that is a good thing. -
National Health Survey conducted under the auspices of the U.S. Public Health Service
This was to assess the nation's health and the underlying social and economic factors affecting health. -
Congress passes the Banking Act of 1935, the Emergency Relief Appropriation Act, the National Labor Relations Act, and the Social Security Act.
The Act includes grants for Maternal and Child Health. These grants restored many of the programs established under the Sheppard Towner Act and extended the role of the Children’s Bureau to include not only maternal and child health services, but other child welfare services as well. -
Change in GNP and unemployment
Economic recovery continues: the GNP grows another 8.1 percent, and unemployment falls to 20.1 percent. This also affects the economy in a positive way because the GNP increasing shows the value of the economy and shows it is improving. This is also a good thing for the economy because the unemployment rate is falling which is a good thing. -
Top tax rate raised to 79 percent.
This affects the economy in a negative way because rising taxes decrease the amount of workers’ take home pay. -
Change in GNP and unemployment
Economic recovery continues: GNP grows a record 14.1 percent; unemployment falls to 16.9 percent. This is affecting the economy in a positive way because we want the GNP of our country to rise because it means we have more value. This is also affecting the economy in a positive way because the unemployment rate is falling and that is a good thing. -
Change in GNP and unemployment
The nation plunges into another recession. Despite this, the yearly GNP rises 5.0 percent, and unemployment falls to 14.3 percent. This is affecting the economy in a positive way because we want the GNP of our country to rise because it means we have more value. This is also affecting the economy in a positive way because the unemployment rate is falling and that is a good thing. -
Change in GNP and unemployment
The year-long recession makes itself felt: the GNP falls 4.5 percent, and unemployment rises to 19.0 percent. Unemployment remained high and industrial production declined. This affects the economy in a negative way because we don’t want the GNP to fall. If it falls that means our country has less value. This is also affecting the economy in a negative way because the unemployment rate went up and that isn’t always a good thing for the economy. -
WWII starts
This boosted the economy by rapidly increasing production. We had to produce lots of supplies to use in the war. -
The United States will begin emerging from the Depression
They will borrow and spend $1 billion to build the armed forces. U.S. manufacturing will have shot up a phenomenal 50 percent. This affects the economy because we will be spending lots of money to build armed forces. -
FDR approves military draft
This caused a large majority of the working men to leave and this caused production to go down. -
Japanese attack on Pearl Harbor, U.S. entered WWII
This triggers the U.S. Everybody pitched in to help, including women to produce supplies for the war. This helped production and the economy. -
Wagner-Murray-Dingell bill
Senators Wagner and Murray, along with Representative Dingell introduce legislation as part of broader vision to operate health insurance as part of social security. Wagner-Murray-Dingell bill includes provisions for universal comprehensive health insurance along with other changes to social security meant to move toward system of "cradle to grave" social insurance and this helps the economy. -
D-Day
The U.S. put a lot of money and supplies into the invasion. The invasion cost a lot of money for the economy. -
The top tax rate is 91 percent. It will stay at least 88 percent until 1963, when it is lowered to 70 percent.
During this time, America had experienced the greatest economic boom in the economy it had ever known. -
Thirty - Third President of the US is Harry S. Truman 1945-1953
Truman protected the New Deal and—with a rise in the minimum wage in 1949 and the enlargement of Social Security in 1950. He pushed forward the cause of African American civil rights by desegregating the military and this affected the economy. -
The United States emerges as the world's only economic superpower.
Deficit spending has resulted in a national debt 123 percent the size of the GDP. By contrast, in 1994, the $4.7 trillion national debt will be only 70 percent of the GDP. This affects the economy in a good way because our GDP is increasing. -
Atomic bomb dropped on Hiroshima and Nagasaki
The economy turned government based and supported.
The wartime expenses and the costs of damage done to Japan threatened the long-term economic ruin of their country. Inflation, unemployment, and shortages in all aspects of necessity were overwhelming. -
U.S. joins the United Nations
The UN works to develop countries economic and social goals. It also helps to teach other countries to have economic stability and aids them in getting on their feet. The UN’s main focus right now is developing African countries. -
Atomic Energy Act
Created the possibility for the expansion of nuclear energy. A new and cheaper type of energy for the nation. -
The Cold War began between the United States and the Soviet Union
The Cold War created a massive economic power competition between the U.S. and the Soviet Union. Such economic growth led to massive spending of money poured into military power. -
NATO formed
N.A.T.O was a pack formed by allied countries and it is where they agreed to help each other if they get in economic trouble or war trouble. -
Senator Joseph McCarthy gains power and starts Communist witch hunts
Searches for communist celebrities started and many stopped performing and creating economic income. It also cost a lot of money to gather intel on any communist spies. -
Thirty - Fourth President of the US is Dwight David Eisenhower 1953-1961
Eisenhower planned to spend less money on military that wasn’t necessary and spend some on nuclear development which was cheaper and more effective. -
Revenue Act of 1954
This excludes employers' contributions to employee's health plans from taxable income. This affects the economy because it changed the tax system.