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President Carter Pardons Vietnam era draft evaders
In 1977 President Jimmy Carter made his campaign fulfilled. His campaign consisted of forgiving the men who evaded the draft when the Vietnam War occured. Gerald Ford proposed that those men get conditional pardons. Although Carter wanted no conditions. Some people ran away and that caused them to get prison sentences. Some people did not agree with this campaign because they believed it encourage people to evade but others thought it was beneficial, Therefore this makes it an economic event. -
Jimmy Carter was elected president
President Jimmy Carter was a good but sometimes troubled president. When he first came into office he was struggling with challenges such as the major energy crisis, high unemployment, and high inflation.Although he did rekindle relations with China and made progress with trying to fix/make peace with the Arab-Israeli conflict all that was then broken by the hostage situation in Iran. This is an economic event because Carter was struggling with economic struggles such as high inflation. -
U.S joins 14 other countries in signing the Nuclear Proliferation pact
The Nuclear Proliferation Pact is an agreement to stop or lower the spead of nuclear weapons/ technology. This act was also signed by 14 other countries to help it come into action. They still let people get the nuclear energy the need but in a safer, more controlled way. This is an economic events because the cut back could have been from a shortage of the nuclear energy. -
Period: to
1970s
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Nixon orders invasion of cambodia.
This was widening the war in Vietnam. In protest, millions march across the U.S. University campuses are shut down by student strikes. Four protesters at Kent State University in Ohio are killed by National Guard troops. The American people felt failed by Nixon. This was one of the largest disagreements between the American people and the military’s orders. -
U.S planes bomb North Vietnam
On December 13, the peace talk between the United States and North Vietnam failed. Nixon announced his bombing campaign and the United States bombed Vietnam for almost two weeks. After Vietnam lost over 1,600 people, they agreed to continue the talk. Weeks later, the Paris Peace Treaty was signed. This was an economic event because the United States was fighting against Vietnam and using money and supplies to bomb them. -
Oil Embargo
OPEC emposed an oil embargo on the US for supplying isreal during war. The embargo banned the exporting of oil and made a cut in productions. This raised inflation by raising oil prices because there was high demand and low supply. Speed lemits were reduced to save gas. This was an economic event because it caused inflation to raise. -
Legalization of abortion
Abortion is a termination of a womens pregnancy for many reasons. Before 1973 women had no way of doing it safely so they would try unsafe illegal ways to terminate it. So this is why they came to an agreement that as long as its in the first 2 trimesters they have the choice to terminate it. After the first 2 trimesters, they cant because the baby is developed too much. This is an economic event because it caused a lot of arguments and disagreements because of other peoples views. -
U.S pulls troops out of Vietnam
The U.S. troops leave Vietnam and Vietnam releases the U.S. prisoners that they had kept during the war. Nixon knew that ending the war would help honor him again as a good president. He decided to withdraw troops to limit the interaction with the war. He knew many were upset about the U.S. getting involved with another war, so he began letting troops come home. This was an economic event because they were at war again and because Americans were starting to come home. -
Impeachment of Nixon
The impeachment of nixon all started because of the watergate scandal. The Watergate scandal happened in June 17,1972. It started with a robbery at the Democratic National Committee. The burglars were connected to Nixon’s reelection campaign, they stole documents and wiretapped phones. After this incident happened he tried to cover it up. People found out and wanted to impeach him so instead he resigned in August 1974. -
trade deficit swelled
Until the 1970’s people enjoyed spending their own money and getting excess of many things just like the rest of the world. But, oil prices started spiking and there was a trade deficit that jumped at a rate of 30$ billion a year at the end of the 1970’s, due to the oil prices and people wanting to buy what they wanted and needed.It started increasing yearly in the 1980’s.In 1983, the trade deficit was 75$ billion dollars and in 1984 it was supposed to reach 100$ billion.