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Minimum Wage Increases
Increased for 75 cents to dollar per hour -
Jonas Salk Develops polio Vaccine
Vaccination Program saved more than $5 in direct costs and approximately $11 in additional costs to society. The annual number of polio cases fell from 35,000 in 1953 to 5,600 by 1957. -
Disneyland
A father who had worked at world fairs, inspired his son to build the Magic Castle and other exhibits in Anaheim, California. Remains still as one of the greatest theme park capitals of the world. -
Stock Market Suffers
|The market that has seen stocks triple on Wall Street in the previous 7 years went into a tailspin, the Dow Jones plummeting over 6% and losing $14 billion in value by the end of what would prove to be the worst single day for markets since the start of WWII. -
US Installs Diem as Leader of South Vietnam
Was viewed as the best hope for the leader of an independent, democratic, South Vietnam. -
Rosa Parks Incites Montgomery Bus Boycott
Without the African American communities riding the bus everyday, the bus company of Montgomery faced probable bankruptcy. -
AFL and CIO Merge in American's Largest Labor Union
American Federation of Labor and Congress of Industrial Organizations merge to form the AFL-CIO, boasting a membership of 15 million. An organization came together to achieve common goals such as, protecting the integrity of trade, improving safety standards, achieving higher pay and benefits such as health care and retirement, increasing the number of employees an employer assigns to complete the work, and better working conditions. -
Interstate Highway Act
People were allowed to transport goods quicker across the country and that reduced cost of the overall price. -
Eisenhower Doctrine
A country could request American economic assistance/aid from the U.S. military forces if it was threatened by armed aggression from another state. -
Civil Rights Act of 1957
Was to ensure that all Americans could exercise their right to vote. -
Russians Launch Sputnik; Space Race begins
Sputnik was the first artificial Earth satellite. This affected the U.S. economy because there was a new emphasis on science and technology in American schools. -
First U.S. attempt to launch
To launch a satellite into space failed when it exploded on the launchpad. Was important because it showed that the U.S. was trying to win the Space Race. -
Explorer I
The 1st U.S. Space Satellite,was launched by the Army at Cape Canaveral. It would discover the Van Allen radiation Belt. -
NASA Formed
National Aeronautical and Space Administration, selected the 1st 7 military pilots to become the Mercury Seven, 1st astronauts of the U.S. -
National Defense Education Act
Funded education institutions of all levels. America was competing with the Soviet Union in areas of science and technology. -
Cuban Revolution
It transformed the relationship between Cuba and the United States. Castro took over Cuba and from that the U.S. lost trade with them. -
New Tax Rate
Eisenhower recommends continuation of 52% tax rate on corporate profits -
Alaska and Hawaii becomes States
The United States brings in 2 new states with completely different weather types. Alaska being cold with an economy based on oil. Hawaii being tropical, based on tourism. -
Get America Moving Again
John F. Kennedy;s campaign promised to "Get America Moving Again" which referred to as the American economy. He wanted economic growth at an annual 4-6% and unemployment at 4%. -
Tax Incentives
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President Kennedy Assassination
Lee Harvey Oswald fired 3 shots from the 6th floor, killing Kennedy and injuring Governor Connally. -
Vietnam War
2 million people between Vietnamese and Americans were killed. An estimates 1.1 million were North Vietnamese -
Creation of Medicare and Medicaid
President Lyndon B. Johnson created both of these -
Great Inflation
A period of time in which that the inflation is unusually high. the rise of inflation is what allowed for an excessive growth in the supply of money -
Minimum Wage Increases
Increases from $1.25 to $1,60 an hour -
MLKJ Assassinated
Ames earl Way shot MLKJ. This was important because the African American's saw King's equality through the nonviolent resistance he had championed. -
Civil Rights Act of 1968 is Signed
For equal housing opportunities regardless of race,religion, or national origin and made it a federal crime to force or by threat of force, injure, intimidate, or interfere with anyone, by reason of the race, color, religion, or national origin. -
U.S. Spending on War
Was spending $22 billion a year on the Vietnam, War, a full 12% of the total federal budget -
Man on the Moon
Mission commander Neil Armstrong and Pilot Buzz Aldrin land on the moon. -
PBS
Public Broadcasting System begins operation, succeeding National Educational Television. PBS has a big impact on the economy because it opens a lot of jobs. -
26th Amendment
allowing 18-year-olds to vote. -
Nixon Visits China
An important step in formally normalizing relations between the U.S. and Chine. This helped open trade for the economy. -
Arab Oil Embargo
From 1973-1974 the U.S. is affected by this, skyrocketing gas prices as the supplies of gas and oil are short. -
Trans-Alaska Pipeline
is 800 miles of pipeline that conveys oil from Prudhoe Bay to Valdez, Alaska. the pipeline was built after the 1973 oil crisis that cause a sharp rise in oil prices in the U.S. -
Microsoft
Bill Gates finds Microsoft, which in time dominated the home computer operating system market