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The federal reserve raised interest rates from 1.75% in late 1958, early 1959 and maintained them at that level until june 1960, by which time bank lending was in freefall and the economy was in recession. Businesses started to shut down that cause the Unemployment rate at 5.7%. President Kennedy made the call on January 30 of 1961 to increase government spending to improve the Gross National Product. -
America’s overseas investment increased to $49.2 billion. From 1945 to 1975 output per hour of labor increased 120 percent while output per standard unit of energy increased 23 percent. Work hours in agriculture fell from 19.2 to 7.5 percent also during this time.By the end of the decade the average Americans real income had increased 50 percent. Median family income rose from $8,540 in 1963 to $10,770 by 1969. -
President John F. Kennedy signs legislation raising the minimum wage in stages from its current $1 per hour to $1.25 per hour by September 1963 -
President John F Kennedy proposed as plan for economic recover in 1963 to cut income taxes from a range of 20-91% to 14-65% He also proposed a cut in the corporate tax rate from 52% to 47%. -
In President Lyndon Johnson’s first address the state the countriesare in and aimed at reducing unemployment, increasing support for education and job training, and expanding public services for the poor. -
President Lyndon Johnson signs the Civil Rights Act of 1964.which gave more opportunities for color people, as it prohibits the discrimination based off race, religion, sex or national origin -
President Lyndon B. Johnson signed into law legislation that established the Medicare and Medicaid programs. A national health insurance program for the elderly and for unfortunate -
President Lyndon Johnson signs the Higher Education Act creating the first federally funded college scholarships.