Challenges of te 1970's
- Created by: thrussellben
- Created on: 21-04-16 13:04
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- The Challenges of the 1970's
- Government Action
- 1969 Tax Reform Act: brought 9m poor families out of income tax
- 1970 Economic Stabilisation Act: gives President power to act on wages, prices, rents and interest rates
- 1971 Emergency Emplooyment Act: "community service" employment for two years
- Aimed at getting people into permanent work.
- 1972 Social Security Act: raises payments by 20% in line with inflation, and links benefit payments to the CPI
- Energy Problems
- 1973 Oil Crisis
- 1973 Arab-Israeli War
- 1979 Fuel Shortage
- May to July: lasted three months, but there was no fuel rationing
- 1973 Oil Crisis
- Confidence Crisis
- Unemployed rose from 5.8% in 1978 to 7.1% in 1979.
- In July 1979, Carter tried to recreate FDR's fireside chats and told the people that energy was not the crisis, but was confidence
- Rising homelessness and job losses reminded people of the Great Depression
- In 1980, America voted for Ronald Reagan, and a very different economic policy
- Rising homelessness and job losses reminded people of the Great Depression
- Government Action
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