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The New Deal, which was enacted by President Franklin D. Roosevelt in 1933, was one of the most comprehensive economic and social reforms in American history. Its primary goal was to get the country out of the Great Depression, and it did so by providing relief to the unemployed, regulating the banking and financial industries, and providing government support for farmers and businesses.
The New Deal had a far-reaching impact on the American people and its economy, and its legacy continues to be felt today.One of the greatest impacts of the New Deal was its creation of the Social Security system. This system provided a safety net for those who had been affected by the economic downturn, providing a steady income for retired individuals, the disabled, and families who had lost a breadwinner.
The Social Security system was also instrumental in reducing poverty, as it provided a reliable source of income for those who were living below the poverty line. This system has been hugely successful, and it continues to provide a vital support system for those who need it.
The New Deal also had a major effect on labor and industrial relations. It provided a framework for collective bargaining and labor unions, which has helped to ensure that workers have fair wages and working conditions. It also provided incentives for businesses to be responsible in their practices, leading to greater economic stability and security.
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