Richard Nixon
inflation
Despite a sluggish economy, inflation reached as high as 14.8%, and interest rates reached as high as 18% during the period 1977-1981. By 1985-1990, this contributed to the failure of Savings and Loan associations which had many bad loans, especially in real estate. Of course, Carter had inherited the general inflationary trend from the Nixon and Ford adminstrations, which saw the beginnings of double-digit levels. President Ford had instituted the generally-ineffective program called WIN (Whip Inflation Now) in October, 1974. However, by November of 1976 the rate had subsided to 4.9% and was 5.2% when Carter took office. Continuous rises brought it to 14.8% in March, 1980, and 11.8% when Carter left office. Since 1982, general inflation has been suppressed below 6.5% and at times has been much lower. (see related link)
Gerald Ford was only President for two years to took over after President Nixon resigned as President on August 9, 1974 until January 1977. He also was only Vice President from 1973 to August 1974 after Spiro Agnew resigned. He faced the OPEC Oil embargo of 1974, which quickly raised the price of oil, gasoline, diesel, and home heating oil. He also was hit with 10% inflation due partly from the removal of the Gold Standard by the Nixon administration in 1971. This removal allowed the private bank known as the Federal Reserve to be able to print as much "paper" money as it deemed necessary, which caused (and causes) inflation (for more on this, see the "Weimar Republic"). He had little time to control the situation; his big speech in October was based on his initiative "Whip Inflation Now." This initiative was to have people grow more food and drive less to try to stop the trend of increasing prices. Another perspective: Jimmy Carter took office as President in January 1977 after defeating President Ford 297 to 241 electoral votes. He was still fighting with oil prices, and his plan was to raise taxes on top income earners to 70%. This caused massive job losses and more inflation. In 1980, inflation was over 20%. Then he had to deal with American ships being pirated and, in 1979, the Iranian Revolution in which Americans were held hostage. He canceled his speech to Congress in March 1980 and later did a speech from the East Room to explain that his $15.8 billion deficit budget "was already obsolete" in only seven weeks. His campaign promises of federal fiscal responsibility were quickly gone.
In 1960: Eisenhower was President. Nixon was VP. The US population was 180,671,158. The life expectancy was 69.7 years. The Dow Jones Industrial Average hit a high of 685 and a low of 566. The federal spending was $92.19 billion. And the federal debt was $290.5 billion. Inflation was at 1.4%. the Consumer Price Index was 29.6. Unemployment was 5.5% A new home cost $16,500. A first-class stamp cost $0.04. A gallon of gas was $0.31. A dozen eggs were $0.57. A gallon of milk was $0.49
inflation
Henry Kissinger
During the Nixon Administration.
Several federal agencies were established during the Nixon Administration. These include:OSHA (Occupational Safety and Health Administration)MSHA (Mine Safety and Health Administration)NIOSH (National Institute for Occupational Safety and Health)EPA (Environmental Protection Agency)
The Watergate Complex in Washington, DC became a symbol of the corruption widespread during the Nixon Administration.
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No. It happened during the Reagan administration.
Environmental Protection Agency
Richard Nixon's Western White House was in San Clemente, California.
No. US troops were in Vietnam from at least Eisenhower's administration, through Kennedy's, Johnson's, and Nixon's, and ended during Ford's administration 30 April 1975.
The Occupational Safety and Health Act was passed during the administration of, and signed into law by, President Richard M. Nixon.
I was wondering what president Nixon did to try to halt the inflation plaguing of this country? I was wondering what president Nixon did to try to halt the inflation plaguing of this country?