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Transcript of The BOOM!!!
Meeting Economic Challenges
Republican Take the Middle Road
Chapter 27- Postwar Boom
Identify the social and economic problems Americans faced after World War II
Readjustment and Recovery
Republican Dwight D. Eisenhower became President
The democrats ran the country for two decades
Eisenhower's running mate Richard Nixon was accused from profiting from a secret fund set up by wealthy supporter
Nixon denied any wrong doing but admits he accepted gifts from a political supporter
(side note: speech is called the checkers speech)
President Eisenhower's style of governing differ from that of the democrats
The Supreme Court ruled in the Brown v. The Board of Education in 1954
Eisenhower believe that the Federral government shounld not get involved in desegregation
Eisenhower also raised minimum wage, extended social security, and backed the creation of interstate highways
Eisenhower was reelected due to his popularity soaring
Many citizens thought that the American dream had finally come within there reach
By the summer of 1946 about 10 million men and women had been released from armed forced.
G.I Bill of Right- Past in 1944 to help ease the veterans return to civilian life, it guaranteed all all vets a years worth of unemployment benefits while job hunting.
1945-1946 there was a housing shortage, William Levitt and Henry Kaiser built houses in suburbs for less than $7000
During the war 8 million women (75% were married) entered the paid work force; as their husbands returned home, most women quit their jobs
By 1950 more than 1 million war marriages ended in divorce.
The U.S Government canceled all war contracts totaling in 35 billion dollars after WWII.
By March 1946 nearly 3 million people were seeking work.
Congress eventually reestablished control on the prices, wages, and costs of everyday life
The 1948 Election
Trying to protect Truman's emphasis on Civil Rights, southern democrats for their own party called Dixiecrats.
The Fair Deal
Truman tried to pass economic and social reforms.
Health insurance and a crop-subsidy program for farmers were defeated by congress.
Truman proposes The Faair Deal, whichwas an extension of FDR's New Deal.
Truman's idea worked, raised the minimum wage 35 cents, extended social security to 10 million more people and the congress sent financial aid to cities.
Truman Supports Civil Rights
Truman asked for "equality of oppertunity for all human beings" , he created a presidents commission on civil rights.
congress refused to pass Truman's several measures, therefore Truman took action.
What words in the cartoon best describe the action being portrayed?
A move from urban areas to suburbs was the mian reason for new construction and
increasing health and living conditions quality added to the positives of urban living.
Post World War II America waited for the United States to suffer an economic collapse. The recession came in the third quarter of 1948 and lasted until the second quarter of 1950.
There were other developments in financial placements during the 1950s.
Growth in the economy also led to increasing popularity of other financial additions. Life insurance companies did amazingly well for the first half of the decade. In 1950 Life insurance policies totaled a massive $13.6 billion, and was rising to $60.1 billion throughout the decade. Another important growth in the 1950s was in pension funds. This industry grew from $11 billion to $44 billion in a one decade.
The housing supply increased by 27% and the quality of housing increased as well.
Do you manage your money well? If not, how could you manage it better?