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debt for the war was funded by War Bonds. The sale of the bonds was very successful.

Savings Bonds, which were also called War Bonds at the time. took on more debt, borrowing about $211 billion. pay for its own military, it also lent money to Britain and other countries fighting the German military. Taking part in this war was very expensive for the U.S. More than 100 million members of the military from different countries were involved. It began when Nazi Germany invaded Poland, and became the most widespread war in history. World War II involved most of the countries of Europe as well as the United States, Russia, Japan, and many colonies in Africa and Asia.

debt was $22 billion in 1933 and grew by 50 percent in the three years that followed, reaching $33 billion.Īt the end of the 1930s, another world war was beginning. This meant that the Government’s debt grew a great deal. All the New Deal programs were paid for, and run by, the Government. The New Deal also changed the way businesses operated to help make sure people were paid more fairly.

prevented people from losing all their savings if a bank failed.

insured the money people put into a bank up to $5000.

The Federal Deposit Insurance Corporation (FDIC) was created. banking system more stable so banks would not go out of business without giving people their money back.

Other New Deal programs helped raise the price of farmers’ crops and the animals they sold.ĭuring the New Deal, changes were made to make the U.S.

As part of those projects, people built many public buildings and roads.

Government started programs that gave unemployed people jobs. He had a plan to help fix the problems with the U.S. In 1932, Franklin Delano Roosevelt, who is also known as FDR, was elected President of the United States.