June 22, 1944: Government Writes a Check That Built the Middle Class

On June 22, 1944, sixteen days after D-Day, Roosevelt signed the Servicemen's Readjustment Act, better known as the GI Bill.It sent eight million veterans to college, underwrote the suburban expansion that reshaped the country's geography, and created the American middle class. It also, through the gap between what it promised and what it delivered, built a racial wealth gap that has been compounding ever since. The man who drafted it wrote the original language on a cocktail napkin in a Washington hotel lounge.From bsnsHistory, the daily podcast about the moments when business quietly reshaped the world.Written and hosted by Ron Trucks. Research and editing by Rodney Russ. Sound design by Angela Cahoy. Music by Cody Martin and Soundstripe.For more daily business stories, visit www.bsnsDAILYpodcasts.com