The Good Ol' Days

  • Inflation is Increasing

    Inflation reaches 6.1 percent, the highest rate since the Korean War
  • Postal Worker's Strike

    The first major postal workers' strike begins in American history and ends after seven days.
  • Unleaded Gas Mandate

    The federal government mandates the use of unleaded gasoline in federal vehicles.
  • Unemployment Has Risen

    The federal government announces that unemployment has risen to 5.8 percent. In response, they reduce interest rates.
  • Time Magazine Discrimination

    Time magazine reaches an agreement regarding job discrimination with 140 female employees.
  • Time Magazine Discrimination

    Time magazine reaches an agreement regarding job discrimination with 140 female employees.
  • Discriminating Job Tests

    The U.S. Supreme Court prohibits employers from using job tests that discriminate against African Americans.
  • President Nixon Ends Trade Embargo

    President Richard M. Nixon ends a twenty-year trade embargo against Communist China.
  • Walt Disney World Opened

    The company needed space that they lacked in California, so they bought 28,000 acres of land in Orlando, FL.
  • Tax Cut

    President Richard M. Nixon signs a $25-billion tax cut.
  • Banning Trans-Alaska Pipeline

    U.S. federal court lifts an April 1970 injunction banning the construction of the Trans-Alaska Pipeline.
  • Presidential Election

    Richard Nixon (Republican) defeated George McGovern (Democrat)
  • PepsiCo Expands Their Selling Range

    PepsiCo announces a deal to sell its products in the Soviet Union.
  • President Nixon Ends Mandatory Wage and Price Controls

    The Nixon administration ends mandatory wage and price controls, except in the food, construction, and healthcare industries.
  • Delta Air Lines Employment

    A court order directs Delta Air Lines to open more positions to women and African Americans.
  • Oil Embargo

    Following the beginning of the war between Israel and several Arab states, the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo.
  • Change Interstate Speed Limits to Conserve Gas

    To conserve gasoline and improve safety, the U.S. Congress orders states to reduce interstate highway speed limits to 55 miles per hour.
  • End of Oil Embargo in the West

    OPEC members, except for Lybia and Siberia, end their oil embargo of the West.
  • President Nixon's Control on Wages and Price Controls

    President Richard M. Nixon's authority to impose wage and price controls on the American economy ends with the expiration of the 1970 Economic Wage Stabilization Act.
  • President Ford Announces Program called Whip Inflation Now (WIN)

    President Ford denied it but Federal Reserve Chairman Arthur Burns states a recession has begun.
  • High Unemployment Rates

    The federal government reports January unemployment at 8.2 percent, the highest level since 1941.
  • Vietnam War Ends

    The U.S.'s involvement in the war ended after about 20 years. The last members of the American Military escaped in a helicopter.
  • Presidential Election

    Jimmy Carter defeated Gerald Ford
  • U.S. Companies Admit to Offering Bribes

    Over 175 U.S. companies admitted to offering over $300 million in bribes since 1970.
  • $2.7 Million Civil Rights Settlement

    300 American Airlines female flight attendants, fired for becoming pregnant between 1965 and 1970, receive a $2.7-million civil rights settlement.
  • Coal Miners' Strike

    110-day coal miners' strike, the longest in U.S. history, ends with the signing of a new three-year contract.
  • Chrysler Corporation Requests a Federal Loan

    The Chrysler Corporation, the third-largest automaker in the United States, requests a $1-billion federal loan to prevent bankruptcy. On November 1, the federal government guarantees a $1.5-billion loan to Chrysler.
  • Recession Has Begun

    One of the causes was the Iranian Revolution of 1979. This was one of the most significant recessions since the Great Depression