Great Depression

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In the United States, the Great Depression was a catastrophic economic downturn lasting from 1929 to the early 1940s. Nearly half of America's banks failed.

President Franklin Roosevelt came in with government intervention to solve the Great Depression with the New Deal. The New Deal featured many spending packages and new organizations, including the FDIC. The New Deal did little, if anything, to address the systemic causes of the Depression.

The United States was eventually lifted from the Depression because of World War II.