oject providing work for people in the arts. In 1943, after the onset of wartime prosperity, Roosevelt terminated the WPA. One of the most well known, The Social Security Act, created a system ofold-age pensions and unemployment insurance, which is still around today. Social security consists of public programs to protect workers and their families from income losses associated with old age, illness, unemployment, or death. The Fair Labor Standards Act (1938) established a federal Minimum Wage and maximum-hours policy. The minimum wage, 25 cents per hour, applied to many workers engaged in interstate commerce. The law was intended to prevent competitive wage cutting by employers during the Depression. After the law was passed, wages began to rise as the economy turned to war production. Wages and prices continued to rise, and the original minimum wage ceased to be relevant. However, this new law still excluded millions of working people, as did social security.However, a severe recession led many people to turn against New Deal policies. In addition, World War II erupted in September 1939. Causing an enormous growth in the economy as war goods were once again in great demand. No major New Deal legislation was enacted after 1938.The Depression was a devastating event in America, and by regulating banks and the stock market the New Deal eliminated the dubious financial practices that had helped precipitate the Great Depression. However, Roosevelt's chief fiscal tool, deficit spending, proved to be ineffective in averting downturns in the economy. ...
