Economy Act of March 20, 1933

The Economy Act of 1933, officially titled the Act of March 20, 1933 (ch. 3, Pub.L. 73–2, 48 Stat. 8, enacted March 20, 1933; 38 U.S.C. § 701), is an Act of Congress that cut the salaries of federal workers and reduced benefit payments to veterans, moves intended to reduce the federal deficit in the United States.

The Economy Act of 1933 is different from the Economy Act of 1932. The Economy Act of 1932 was signed in the final days of the Hoover administration in February 1933. This sometimes leads to confusion between the two pieces of legislation. The Hoover-sponsored bill established the purchasing authority of the federal government and remains in force as of 2009.

Enactment

As Governor of New York, Franklin D. Roosevelt had campaigned for the Presidency, in part, on a pledge to balance the federal budget. On March 10, 1933, six days after his inauguration, Roosevelt submitted legislation to Congress which would cut $500 million ($8.181 billion in 2009 dollars) from the $3.6 billion federal budget by eliminating government agencies, reducing the pay of civilian and military federal workers (including members of Congress), and slashing veterans' benefits by 50 percent. Veterans benefits constituted a quarter of the federal budget at the time. The Act was written primarily by Lewis Douglas, Roosevelt's Director of the Budget, and Grenville Clark, a private attorney.

Economy Act (disambiguation)

A number of pieces of legislation are known as the Economy Act.

In the United States:

  • the Economy Act of 1932, which established the purchasing authority of the federal government
  • the Economy Act of 1933, part of Roosevelt's "New Deal". (38 U.S.C. § 701)
  • In the United Kingdom, a common name for either of:

  • the Economy (Miscellaneous Provisions) Act 1926 (16 & 17 Geo. V c. 9)
  • the National Economy Act 1931 (21 & 22 Geo. V c. 48)
  • Podcasts:

    PLAYLIST TIME:

    We Gonna Make It

    by: Danny!

    [Verse:]
    All I ever really wanted was my name in the bright lights
    Tryin' to get my fanbase expandin' from Asians to white dykes
    I still need a fuckin' publicist
    It's D. Swain, and I'm giving you my butt to kiss
    Let me take it way back when I didn't have scratch
    Listenin' to music, sayin' "I can do this too!"
    It's cool, just do your thing
    Don't ever let these haters try to ruin your dreams
    I knew things would start slow
    Dealin' with a DJ with mood swings
    Cheap articles were made, I played my part
    I stayed on the charts
    Gotta keep my mind and my tongue razor-sharp
    Back then, when I did venues for chump change
    Why they wanna keep the top billing from Swain?
    Dropped the first name, added a dot
    And kept the last name -- "is that Swain?" -- daggit, he's hot
    I went away to school, then I got kicked out
    Shit happens, but I gotta stick to rappin'
    I'm still doing shows but they won't quit laughin'
    When I tell 'em what went down at Claflin, so that's it
    I get down on my knees and pray
    For a chance to say everything I need to say
    Matter fact, I said eight prayers
    "The College Kicked-Out" dropped five months and eleven days later
    All of a sudden, a star is born
    And to think, it all started in a dorm room
    More boom than a lil' bit
    I'm a little nitwit that made good
    A little quick wit will get you real far
    If you know how to use it
    Got my whole school doing music, it's true bitch
    And I'm still tryin' to make it in the game
    Tryin' to soak up all the fame
    But I hope it don't choke up all of Swain
    Yo I'm trying to get these folks to call my name
    I let 'em clown me so the weak could win
    Now I'm headed to the top with a sheepish grin
    Only one hit away like Bleek would've been
    If he would've been in my shoes, who would've thought?
    D. Swain taking the blame and never get caught
    The fame don't come easily, or cheap, or free
    You gotta work hard to get to where you need to be
    Take it from me, I know what I'm sayin'
    All the hatin' in my ear is getting old, but I'm waitin'
    For the day that I'm famous
    I'll have fans in Alabama like, "Man, D. Swain is a genius!"
    Danny Boy, not the one to mess around son
    Thought you suckers had me 'til I dropped the second album
    Fresh like a pair of starched jeans
    I'm still tryin' to be rap's next media darling
    If success is the next best thing to gettin' sex
    Well then, gimme that there
    Wait'll you see my hits




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