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A big economic downfall in the U.S economy due to stuff like poverty, unemployment etc.
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The minimum wage for workers increases from $1.00 an hour to $1.25 an hour.
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Gave business a 7% investment tax credit, tax cut
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Stock Market falls/drops 6% In the U.S
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John F. Kennedy increases government spending and cuts taxes to accelerate economic growth.
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Inflation was stable but unemployment is really high, at 5.7%
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Lyndon B. Johnson signs Jobs Bill, Transit Bill allocating $375 million for construction of urban transit systems.
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Johnson got an annual dividend of $4-5 billion from kennedy's economic plans.
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Johnson signs Tax Reduction Act, lowering income tax rates to 48%
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Economic Opportunity Act supported health/education of the poor, passed by Lyndon B. Johnson
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GNP is at $9 billion
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Johnson creates Medicaid/Medicare to help the poor
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Johnson increases Federal spending as government launched new programs(Food stamps,etc)
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America's overseas investment increased to $49.2 billion.
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Real Growth is at 9% in U.S.
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Congress imposed a temporary 10% income tax surcharge.
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Surcharge becomes a law, tied to $6 billion budget reduction.
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Housing discrimination Ban, discrimination of sale of privately owned homes
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Signs low housing bill, allocates $5 million for poor people
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Nixon ignored low wage workers complaints so inflation increased to 6.5%.
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Government failure to raise taxes accelerates inflation.