I have to talk about a couple of different topics this week, The Public Works Administration (PWA) and the Federal Housing Administration (FHA) both of these topics are part of the New Deal.First, I will start talking about the Public Works Administration;The Public Works Administration was made by the National Industrial Recovery Act on June 16, 1933. Public Works Adminitration helped create jobs, Improving public well-being. It also encouraged econimic growth. Between the times of July of 1933 and March of 1939, it founded the building of more than 34,000 big building projects involving airports, electricity-generating dams, 70% of new schools, and aircraft carriers. That was a very big step in the economy. The only thing that the Public Works Administration didn't do was create as many affordable houses as they had hoped for. Even though the PWA spent over 6 million dollars, it didn't greatly reduce the unemployment level or help restart the spread of smaller businesses.
Next I will tell about the Federal Housing Administration;It basically gives mortgage insuranc on loans made by approved lenders. FHA is the biggest insurer fo morgages in the world. It insures over 34 million properties. If you wanted to buy a house and the bank or you were kinda not so sure if the buyer would make the payments, the FHA will help pay for part of that loan so the buyer could get their house and the bank would receive their full payments for the buyer's house.
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