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"Stagflation"
An economic situation where inflation is high, economic growth is relatively slow and the unemplayment rate is high.
This was one cause of Nixon's economic plan to worry about not and forget about the future. -
OPEC Crisis
As the U.S. was reaching it's peak in oil, OPEC members proclaimed that they were going to embargo oil to the U.S. This embargo was seen as a response to the U.S. choosing to supply Isreal during the Yom-Kippur War in the middle east. This severely damaged the U.S. economy, causing an Oil Shock crisis and lasted from October 1973 to March 1974.
This ended when Isreali troops were withdrawn from Isreal and other setlements were negotiated with the occypying countries. -
Ford Pardons Nixon
One of the most serious presidential scandals eruppted from the Nixon Administration; the Watergate scandal. As Nixon was going to be impeached he resigned from the presidency but Watergate was still the center of attention. Controversy was fought over wether this was an appropriate action but Gerald Ford officially pardoned Nixon from this illegal scandal in order to put the whole subject to an end. -
Helsinki Accords (1975)
A major diplomatic agreement to reduce soviet tension with the West. Taking place in Finland, almost all european countries and the U.S. and Canada signed this treaty recognizing the post WWII status quos and agreeing to respect fundamental human rights. -
Panama Canal Treaty
Signed by Jimmy Carter and Panama's leader, the treaty agreed to turn over the canal to Panama in the start of the 21st century including opperation and defense of the canal. The U.S.'s only existing authority over it was to defend the canal if any threat were to take place considering the canal was a neutral zone. -
Camp David Accords
An intense 13 day period in search for an agreement headed by President Jimmy Carter bewtween the Egyptian Presidetn and the Isreali Prime Minister that set up a framework of agreements for a peace treaty between the two middle-eastern countries.
The small agreements included self-government, legitimate rights, and troop withdrawl. This ultimately led up to the Isreali-Egypt Peace Treaty. -
Moral Majority
(Day and month unknown)
A mainly conservative group founded by an American minister, Jerry Falwell. This civic organization lobbied against new tends rising in the late 1960's and early 70's. They protested things like the legalization of abortion, the womens movement and the gay rights movement.
They valued traditional christian fundamentals, school prayers, increased defense spending, and anticommunism. -
Three-Mile Island Incident
A nuclear reactor near Middletown, Pennsylvania partially melted down causing the most serious commercial nuclear power plant meltdown in opperation history in the U.S..
This incident sparked a series of sweeping regulations and precausions to prepare for safer environments reguarding nuclear radiation. -
SALT II
The second of the Strategic Arms Limitation Talks, SALT II was an official treaty bewteen the U.S. and the Soviet Union and the first nulear arms treaty that assumed strategic arms reductions, banned new missle programms and reduced development of new strategic missles limmiting production. -
Iran Hostage Crisis
In Tehran, an agnry mob of Islamic revolutionaries invaided the U.S. Embassy and took over 60 Americans as hostage. Demanding the Shah and billions of dollars, the crisis lasted 444 days - up until Reagan was inaugurated as presdident. Khomeini's government decided there was not much else to be gained and released the hostages just minutes into Reagans inaugural speech. -
Election of 1980 and the "Reagan Revolution"
In the presidential election in 1980 between three candidates, one of them won in a landslide. Ronald Reagon won with an electoral of 498 verses Jimmy Carter's 49 votes. Elected for his decisivness, his sweeping victory gave rise to the "Reagan Revolution" which radically changed the furture for generations of conservatism to come. -
Reaganomics
This system of trickle down-econmocis was nicknamed Reaganomics by the media. Reagan has insisted cutting 30% of taxes for the wealthier upper class levels.
In this system, money would "trickle down" from the wealthy to the middle/lower classes, because the upper classes would have more spending money, this would make for an income increase in the middle/lower classes.
(Day of event is not accurate) -
Sandra Day O'Connor Appointed to Supreme Court
Pledged by Reagan and inacted, Sandra Day O'Connor became the first female to be appointed to the highest court in the U.S. After hearing trials to justify O'Connors qualifications, the senate voted her in by a vote of 99 to zero.
Serving for about a quarter century, O'Connor influenced more women to pursue law and remained an extraordinary inspiration for generations of women to come. -
Strategic Defense Initiative
Initiated by President Reagan, the program's intent was to creat an anti-ballistic missle system to prevent future missle attacks from other countries. This plan was majorly built to threaten the Soviet Union in the cold war era.
The program was nicknamed "Star Wars" by the media concerning the wak support and ridiculous ideas of the plan.
The program was abondoned within a few years. -
Millitary action in Grenada and Nicaragua
President Reagan ordered military action to invade Grenaga. U.S. troops continued to sieze airports, Cubans and Soviets. Durring this invasion, the revolutionary Prime Minister of Grenada was killed along with a few other of his associates.
During the invasion, U.S. troops also occupied parts of Nicaragua and interfered to set up a pro-U.S. goverment.
In 1984 the International Court of Justice ruled in favor for Nicaragua, requiring the U.S. to pay for reparations which the U.S. refused to so. -
Iran-Contra Affair and Oliver North
The Iran-Contra affir was jumpstarted by members of the Islamic Revolution taking Americans as hostage. The initial plan was to exchange arms with Isralies in turn to exchange with Iran during an embargo but quickly deteriorated into a scandal of arms for persons.
Oliver North had taken part in revising the scandalist plan. He had revised it to take the proceedes from the arms exchange to aid the Contra rebels in Nicaragua, against the Boland Amendment. -
Savings and Loan Scandal
(Takes place between 1980-1990)
This crisis was started when 747 savings and loan associations failed, causing a major deficit of about 87.9 billion dollars.
To attract more investers, CEO's of such associations started creating a system of seemingly profitable buisnesses while actually losing money. This scandal, difficult to detect under the policies of the Reagan administration, led to major economic difficulties. -
Breakup of the Soviet Union + Berlin Wall
(Could not find day of event)
The Cold War had just ended with the fall of the Soviet Union. The fall was created by their economic failure trying to compete with the U.S. in the arms race.
As the Soviet Union fell, so did the Berlin Wall and Soviet control over East Germany. Demolition lasted from 1989 to 1991. -
Operation Desert Shield/Storm
(Could not find day and month of event)
In Operation Desert Shield the U.S. biult up it's forces and the Saudi Arabian forces for the gulf war.
Operation Desert Storm addressed an air and land conflict during the guld war removing Iraq rebels from Kuwait.
The U.S. was one of many nations taking part in the war effort to rid Kuwait of Saddam Hussein and his invading rebel army.