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Why was there growing inflation during the Nixon administration?
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Which president declared controls on wages and prices to halt the inflation that was wracking the U.S. economy?
Richard Nixon
The continued rise in the cost of goods due to the decrease in purchasing power of the dollar This problem was a key issue throughout several administrations including Nixon Ford Carter and Reaga?
inflation
What was the inflation rate under Jimmy Carter?
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)
How did Ford and Carter try to fix economic problems and why didn't their plans work?
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.
Which best describes the state of American economy in 1960?
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
A major foreign concern for the Nixon administration?
inflation
Who was the spokesman for detente during Nixon administration?
Henry Kissinger
When did the US start borrowing money from China?
During the Nixon Administration.
Which federal agency was established 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)
A Washington office complex that became a symbol of the widespread corruption of the Nixon administration?
The Watergate Complex in Washington, DC became a symbol of the corruption widespread during the Nixon Administration.
Which city was the site of the western white house during the Nixon administration?
boooooob
Was Nixon part of the Iran-contra scandal?
No. It happened during the Reagan administration.
Which is a federal agency established during the Nixon administration?
Environmental Protection Agency
What city was the site of the western White House during the Nixon administration?
Richard Nixon's Western White House was in San Clemente, California.
Did the Vietnam War start during the Lyndon Johnson administration?
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.
During which presidential administration was the Occupational Safety and Health Act passed?
The Occupational Safety and Health Act was passed during the administration of, and signed into law by, President Richard M. Nixon.
In what ways did Nixon try to remedy the economic state of stagflation?
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?
