1 / 14

Presidents Ford and Carter

Presidents Ford and Carter. Chapter 28. Economy of the 1970s. Prosperity widespread after WWII in US Mid-1960s (Johnson Admin.) Widespread spending on Vietnam War and Great Society Inflation occurs (loss of the value of money). OPEC. Organization of Petroleum Export Countries

dian
Télécharger la présentation

Presidents Ford and Carter

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Presidents Ford and Carter Chapter 28

  2. Economy of the 1970s • Prosperity widespread after WWII in US • Mid-1960s (Johnson Admin.) • Widespread spending on Vietnam War and Great Society • Inflation occurs (loss of the value of money)

  3. OPEC • Organization of Petroleum Export Countries • Mostly Arab nations • 1973: Arab-Israeli Conflict • Oil becomes political weapon • Embargo on Israeli supporters • Raised price of crude oil by 70%, then another 130% • Crude Oil Price (by barrel) • 1973: $3 • 1980: $30

  4. Economic Stagnation at Home • Aging US manufacturing plants • 1971: US imports > US exports • First time since 1889 • Stagflation • Nickname for a combination of inflation with a stagnant economy and high unemployment • Economists confused

  5. Economists Dilemma • Spending to help end recession? • Increases inflation • Raising taxes to slow inflation? • Recession continues • Nixon’s decision: Control inflation • Cut spending • Raise taxes

  6. Post-Nixon Economy • 1975: Unemployment approaching 9% • Ford urges American changes • Reduce dependency on oil/gas • Raise interest rates • Big changes under Ford • Cut government spending • Vetoed 50 bills • Balance the budget • Keep taxes low

  7. Ford’s Foreign Policy • Sec. of State Kissinger pursues détente with communist states • Helsinki Accords: • Borders of Eastern Europe accepted • Soviets will uphold basic human rights including migration • Soviets did not follow agreement • US turns against foreign policy • Cambodians capture Mayaguez cargo ship • Marines attack, 41 die

  8. 1976 Election • Ford • Continued tax cuts • Continued economic recovery programs • Bad public image • Carter • Former GA Governor • Promises to restore integrity to US • Promote energy development • Tax Reforms • Welfare Reforms • Nationalized health care • “Outsider” in Washington

  9. Electoral Vote: Carter 297 Ford 240

  10. The Carter Administration • Priority #1: Fix the economy • Increase Government Spending • Cut Taxes • Result: Inflation surge • Ended tax cuts and vetoed spending programs he proposed • Reduce money supply and raise interest rates • Result: Failed to stop inflation and recession

  11. Oil and Carter • Foreign Oil Dependence • Energy usage concerns • Conserve Oil; Promote Coal and Renewable Energy • Create Department of Energy • Deregulation of oil companies • Agreed to by Carter, but with “windfall tax” • 1979: Middle East instability causes fuel shortage

  12. Jimmy Carter’s Policies • Domestic Policy • Energy concerns • Inexperience and Outsider Status hurt relations with Congress • Blocked Proposals • Didn’t Reach Out • Public Polls show unease • Foreign Policy • Be honest with other nations • Latin America • Interventionist • Panama Canal to Panama after 60+ years • USSR • Human Rights • Imprisonment of Protesters • Afghanistan • Grain Embargo • Boycotted Olympics

  13. Carter and the Middle East • Camp David Accords • Iranian relationship • US Supported Shah • Oil • Anti-USSR expansion • Iranian discontent with Shah • Western reforms • Repression • Shah forced to flee, new administration takes over

  14. The New Iran • Ayatollah Khomeini takes over • Religious leader • Islamic republic • Distrust of US • November 1979: US Embassy taken over • 52 Americans taken hostage • Carter administration fails to negotiate release • April 1980: Rescue mission • January 20, 1981: Hostages released after 444 days in captivity

More Related