U.S. president Franklin D. Roosevelt signs the Servicemen’s Readjustment Act into law. Commonly known as the G.I. Bill of Rights, or simply G.I. Bill, the grants toward college and vocational education, generous unemployment benefits, and low interest home and business loans the Bill provided to nearly ten million military veterans was one of the largest factors involved in building the vast American middle class of the 1950s and 1960s.