-
Economic Status
GDP- 543.3
Inflation- 1.7%
Unemployment- 5%
Economic Growth- -2%
Average Income- $378 bill -
Peace Corps is Created
The volunteers built sewer and water systems, built and taught in schools, helped to develop new crops and ways to increase agricultural progress, and helped with many other things.
This helped the poverty stricken places take small steps towards improving their local communities economy. -
John F Kennedy runs for President
John F Kennedy as Presidential candidate wanted to improve “New Frontier” challenges
Sought for economic growth by cutting taxes, increasing government spending, medical help for the elderly, aid for inner cities, and increased funds for education -
Large Industrial Corporations Take Charge
The five largest industrial corporations accounted for over 12 percent of all assets in manufacturing. General Motors: $11.40 billion
Exxon Mobil: $8.44 billion
Ford Motor: $6.71 billion
General Electric: $4.46 billion
Mobil: $3.32 billion -
Economic Status
GDP- 605.1
Inflation- 0.7%
Unemployment- 5.9%
Economic Growth- 8%
Average Income- $410 bill -
Kennedy is Assassinated
Kennedy was assassinated, therefor Congress enacted most of his legislative agenda that he had yet to complete. Lyndon Johnson steps in as President. They formed views of a “Great Society” by spreading the good economy to everyone. Federal spending greatly increased with Medicare, food stamps, and education funding going out to the public. Inflation was stable, corporate profits were at a record high, and the stock market had rebounded, but unemployment was still too high at 5.7 percent. -
Economic Status
GDP- 685.8
Inflation- 1.6%
Unemployment- 5.6%
Economic Growth- 3%
Average Income- $455 bill -
War on Poverty
LBJ announces “War on Poverty”
19% poverty rate
Medicare, Medicaid, increased federal housing, and other programs were set in place to reduce the rate -
Vietnam War
Johnson announces sending 21,000 more troops to Vietnam to continue to fight in the war so military spending increases a lot By 1965 General Motors, standard old of New Jersey and ford had larger incomes than all the farms in the United States. America’s overseas investment increased to $49.2 bill -
Economic Status
GDP- 815
Inflation- 1.6%
Unemployment- 4%
Economic Growth- 10%
Average Income- $546 bill -
NASA
NASA launches the Lunar Orbiter 3 spacecraft, estimated to cost around $163 million -
Economic Status
GDP- 942.5
Inflation- 4.5%
Unemployment- 3.7%
Economic Growth- 3.5%
Average Income- $625 bill -
_
Over 540,000 troops fighting in Vietnam at the time Neil Armstrong and Edwin "Buzz" Aldrin were the first people to walk on the moon with a cost of $25.4 billion -
Sources
https://www.thoughtco.com/us-economy-in-the-1960s-and-1970s-1148142
https://www.washingtonpost.com/news/wonk/wp/2012/07/11/poverty-in-the-50-years-since-the-other-america-in-five-charts/?noredirect=on&utm_term=.03aa9c0f5cf0
https://247wallst.com/special-report/2016/05/20/the-biggest-company-the-year-you-were-born/3/
http://elcoushistory.tripod.com/economics1960.html
https://tradingeconomics.com/united-states/gdp
http://www.thepeoplehistory.com/1967.html
