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===Double-dip recession===
===Double-dip recession===
When FDR was inaugurated for his second term [[national income]], [[payroll]]s, and industrial production<ref>League of Nations Monthly Bulletin of Statistics, June, 1936. Percentage change 1929 to March 1936, United States -21.8%, rank number 13.</ref> were still 20 per cent below the 1929 figure and construction was still only about one third what it had been in 1929 when the nation had a booming economy due to massive speculation that would ultimately lead to the stock market crash. By June, 1937 the Treasury boasted relief payments were less than in the same period the preceding year. But this was not so. The Treasury made a practice of cooking the books and producing phony numbers. It merely shifted relief payments to other accounts. They were, in fact, larger than the year before. Stock prices declined and by September the reality could be no longer hidden. By the end of October the market crashed. The budget was running a [[deficit]] at the time $300,000,000 a month.
When FDR was inaugurated for his second term in March 1937 [[national income]], [[payroll]]s, and industrial production<ref>League of Nations Monthly Bulletin of Statistics, June, 1936. Percentage change 1929 to March 1936, United States -21.8%, rank number 13.</ref> were still 20 per cent below the 1929 figure and construction was still only about one third what it had been in 1929 when the nation had a booming economy due to massive speculation that would ultimately lead to the stock market crash. By June, 1937 the [[U.S. Treasury]] reported relief payments were less than in the same period the preceding 12 months, however this was not so. The Treasury merely shifted relief payments to other accounts. REleif payments were, in fact, larger than the year before. The Treasury made a practice of "cooking the books" to produce phony numbers. Stock prices declined and by September the dire reality could be no longer hidden. By the end of October 1937 the market crashed. The U.S budget was running a [[deficit]] at the time of $300,000,000 a month.
===Class warfare===
===Class warfare===