Today in History for March 4th

Highlights of this day in history: Franklin D. Roosevelt is sworn in as president and vows to lead America out of the Great Depression; President Ronald Reagan takes responsibility for the Iran-Contra affair; The AAA is founded. (March 4)

Video Transcript

- March 4, 1933. In Washington, Franklin D. Roosevelt is sworn in as president. He pledges to lead America out of the Great Depression in his inaugural address.

FRANKLIN D. ROOSEVELT: So first of all, let me assert my firm belief that the only thing we have to fear is fear itself.

- 1987. Also, in Washington, President Ronald Reagan takes responsibility for the Iran-contra affair. He did not he acknowledges his administration's overtures to Tehran deteriorated into an arms for hostages deal.

RONALD REGAN: A few months ago, I told the American people, I did not trade arms for hostages. My heart and my best intentions still tell me, that's true. But the facts and the evidence tell me it is not.

- And 1902, birth of the AAA as the American Automobile Association is founded in Chicago. Today in history, March 4. David Melendi, the Associated Press.