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It's important to note that it used to be longer, about four months. When FDR was elected, the Great Depression was gearing up, and he and the old administration were completely unable to cooperate in creating relief programs and whatnot--which meant he was legally powerless, not being the President yet, but the old President was symbolically and publically pretty powerless as well, and nothing got done while the economy tanked farther. Because of this, they pushed future elections back to just 2 1/2 months before the turnover.
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