Changes

===The 1930s: Liberalism ascendant===

===The 1930s: Liberalism ascendant===

Deflationary policies initiated by the Federal Reserve led to a depression (1929-1934) under President Hoover. In 1933, President Franklin Roosevelt, a Democrat, wisely allowed a banking panic to run its course. A recovery of historic proportions followed, and liberalism received the credit. Roosevelt was overwhelmingly reelected in 1936 with a huge Congressional majority. In 1937, America suffered under its most left-wing government ever. There was a wave a labor unrest as the unions attempted gain control of industry with federal support. The economy slipped into the "Roosevelt depression" (1937-1938) that was as bad as anything under Hoover. At the end of the year, southern Democrats defected from Roosevelt's coalition to form the "Conservative Coalition" with Republicans and the "Second New Deal" was aborted. This coalition dominated Congress until 1961.

Deflationary policies initiated by the Federal Reserve led to a depression (1929-1934) under President Hoover. In 1933, President Franklin Roosevelt, a Democrat, wisely allowed a banking panic to run its course. A recovery of historic proportions followed, and liberalism received the credit. Roosevelt was overwhelmingly reelected in 1936 with a huge Congressional majority. In 1937, America suffered under its most left-wing government ever. There was a wave a labor unrest as the unions attempted gain control of industry with federal support. The economy slipped into a "Roosevelt depression" (1937-1938) that was as bad as anything under Hoover. At the end of the year, southern Democrats defected from Roosevelt's coalition to form the "Conservative Coalition" with Republicans and the "Second New Deal" was aborted. This coalition dominated Congress until 1961.

==References==

==References==