1935 – Social Security

President Franklin Roosevelt signs the Social Security Bill in Washington on August 14, 1935. The bill will provide old age pensions and unemployment insurance.

Even though the U.S. gross national product had risen from $56 billion in 1933 to $72 billion in 1935, more than 10 million people remained unemployed. To increase employment and raise the standard of living for the ordinary citizen, the New Deal’s second phase (1935–1936) establishes the National Labor Relations Board, the Works Progress Administration, and the Social Security system. (© AP Images)