The former governor of New York, Franklin Roosevelt, rides to the Capitol with President Herbert Hoover for his inauguration. The country is in the midst of a severe depression, after the stock market crash in 1929. In his inaugural address, which is heard throughout the nation on radio, Roosevelt announces the New Deal and emphasizes that economic recovery is dependent on new policies and a new national attitude. Roosevelt’s address includes the famous words: “So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself.” Roosevelt will go on to serve three more terms, the only president to serve more than two terms.