FORD, CARTER, REAGAN

FORD, CARTER, REAGAN

https://www.youtube.com/watch?v=dS3ehyfkD7c

Gerald Ford- 1974- 1976 (1016- 1017)

• FORD PARDONS NIXON– DIDN’T WANT COUNTRY TO GO THROUGH UGLY

TRIAL

1970S-“WHIPPING INFLATION”• 1973- OPEC places an oil embargo on U.S. for supporting

Israel in the Middle East• Price of gas and oil doubles• Inflation: to 10%

• FORD?– Cut back on use of gas, oil– Cut federal spending– Encourages Fed to have “tight money” policy

• DOES IT WORK?– Worst recession since Great Depression

CARTER: STAGFLATION

• RISING INFLATION AND UNEMPLOYMENT AT THE SAME TIME

• CARTER’S TERM:– Unemployment- 6-7%– Inflation from 6% to 13%

• STAGFLATION: 1979

Jimmy Carter (1977- 1980)

• His ideas on solving energy crisis?– Americans should cut consumption– National Energy Act:• Tax on gas guzzlers• Tax credits for alternative energy (NUCLEAR)

Carter foreign policy

• Carter insists on “human rights”– Gets angry with Soviets over treatment of

dissidents and invasion of Afghanistan• (Goodbye realpolitik and détente)• SALT II falls through when Soviets invade

Afghanistan

Camp David Accords

• Carter mediates peace between Israel and Egypt

Ronald Reagan (1981- 1988)

• Entitlement programs: guaranteeed benefits to certain groups (Social Security, Medicare, Medicaid)– EXPENSIVE– People fraudulently taking federal $$

• Affirmative Action– People saw it as reverse discrimination

REAGANOMICS: nickname for “supply side” economic policy-

• LOWER taxes on individuals and businesses– this would increase investment in businesses and

production, increasing the supply of goods and stemming inflation

– “pro big business”- reduce regulations on big business– make large cuts in the government

• Great Society Programs• Environmental Protection Agency

• INCREASES SPENDING ON DEFENSE (SDI- STAR WARS)

George HW Bush (1989-1992)

• Persian Gulf War • August 1990- IRAQ invades oil rich Kuwait• • Operation DESERT STORM– UN condemns….– January and February 1991– 500,000 troops sent into Saudi Arabia– Iraq accepts all UN demands

• Poor Economy- loss in 1992 election

William Clinton (1993- 2000)• 1992- NAFTA (North American Free Trade Agreement)• US, Canada and Mexico agree to break down TRADE BARRIERS•

Failure at Health Care Reform:• 1993- Clinton tries to institute a health care plan to insure all Americans• it fails- rising price of health care still a major issue today• Scandal and Impeachment• 1998- the HOUSE OF REPRESENTATIVES impeaches Clinton on charges

of perjury and obstruction of justice• the Senate acquits him• Economic Prosperity• 1990s- longest period of economic growth in US history

George W Bush (2001- 2008)

• Election of 2000• Bush beats Al Gore, but loses the POPULAR vote (2nd time in history)• In FL, the Supreme Court orders a stop to the recount of votes (1st

time SC intervenes in an election)• impacts of 9/11 :• aid in the overthrow of the Taliban in Afghanistan• Operation Iraqi Freedom- rid Iraq of WMD

– WMD never found– “Mission Accomplished” in 2003; War doesn’t end until 2011

• creation of the Department of HOMELAND Security• Patriot Act- reduces in law enforcement agencies' gathering of

intelligence within the United States

• Under Reagan, there were cuts in SOCIAL PROGRAMS_spending, but increases in DEFENSE SPENDING

• SDI (STAR WARS)- DEFENSE SYSTEM TO KNOCK MISSILES FROM SKY

• DEFENSE SPENDING DOUBLES ALMOST• NATIONAL DEBT? ALMOST DOUBLES

• Uniting (and) Strengthening America (by) Providing Appropriate Tools Required (to) Intercept (and) Obstruct Terrorism Act of 2001

• http://www.youtube.com/watch?v=2KjHwi6whtQ&feature=related

• http://www.msnbc.msn.com/id/43178749/ns/world_news-europe/?GT1=43001 (serbian)