The controversial Economy Act of 1933 is signed into law, slashing $243 million in government salaries and pensions, and veterans' benefits. Despite the economic crisis, super majorities of American economists, policymakers, and the general public believed that the federal government needed to balance the budget and avoid deficit spending, to avoid putting further strain on the bond market which would negatively affect government borrowing costs, banks, corporations, and foreign investors. From 1929 to 1933, the total debt owed by the U.S. government rose from $16.9 billion to over $23 billion.
On 21 March 1933, the new Reichstag was constituted with an opening ceremony at the Garrison Church in Potsdam. This "Day of Potsdam" was held to demonstrate unity between the Nazi movement and the old Prussian elite and military. Hitler appeared in a morning coat and humbly greeted Hindenburg.
On 23 March 1933, the Reichstag assembled at the Kroll Opera House under turbulent circumstances. Ranks of SA men served as guards inside the building, while large groups outside opposing the proposed legislation shouted slogans and threats towards the arriving members of parliament.