policy of détente with the Soviet Union Ford continued Nixon’s In 1975, the U.S., USSR and other nations signed the Helsinki Accords, recognizing post-World War II borders and pledging to respect human rights During the Ford Presidency, the OPEC oil embargo pushed inflation from 3 percent in 1972 to 11 percent in 1974 Increased foreign competition, particularly from Japan in autos and electronics, hurt the economy Many new jobs were added, but they were in service industries restaurants and – selling rather than in heavy manufacturing – President Jimmy Carter: Democrat Jimmy Carter was elected President as an who promised to “outsider” clean up Washington Carter was President of the United States from 1977 to 1981 chief problems were economic Like Ford, Carter’s The U.S. was heavily dependent on imported oil As oil prices skyrocketed, inflation went over 10%, interest rates rose to 20%, and unemployment grew High oil prices and shortages continued throughout the Carter years President Carter made human rights a high priority Carter also signed a treaty returning the Panama Canal to Panama in 1999 (the Panama Canal Treaty) In 1977, Carter President Anwar Sadat and Prime invited Egypt’s Israel’s Minister Menachem Begin to Camp David, where an agreement was reached Israel returned the Sinai Peninsula to Egypt in exchange for a peace treaty and the establishment of normal relations In 1978, widespread demonstrations broke out against the Shah in Iran The Shah was a brutal dictator supported by the United States When the Shah fled the country, religious leaders hostile to Western influences seized control They resented America for helping the Shah and backing Israel In retaliation, Iranian students seized the staff of the U.S. embassy in Iran, holding them hostage for 444 days Negotiations finally led to their release, but only on the day Ronald Reagan became President President Ronald Reagan: Carter was defeated by Ronald Reagan in the Presidential election of 1980 Reagan believed strongly that individuals and businesses were better able to solve economic problems than the government was Reagan supported the policy of New Federalism first begun under President Nixon Reagan tried to solve stagflation with supply-side economics He believed a large supply of goods would decrease prices and stop inflation Under he cut taxes on businesses and the wealthy “Reaganomics,”
Ford continued Nixon’s policy of détente with the Soviet Union In 1975, the U.S., USSR and other nations signed the Helsinki Accords, recognizing post-World War II borders and pledging to respect human rights During the Ford Presidency, the OPEC oil embargo pushed inflation from 3 percent in 1972 to 11 percent in 1974 Increased foreign competition, particularly from Japan in autos and electronics, hurt the economy Many new jobs were added, but they were in service industries – restaurants and selling – rather than in heavy manufacturing President Jimmy Carter: Democrat Jimmy Carter was elected President as an “outsider” who promised to clean up Washington Carter was President of the United States from 1977 to 1981 Like Ford, Carter’s chief problems were economic The U.S. was heavily dependent on imported oil As oil prices skyrocketed, inflation went over 10%, interest rates rose to 20%, and unemployment grew High oil prices and shortages continued throughout the Carter years President Carter made human rights a high priority Carter also signed a treaty returning the Panama Canal to Panama in 1999 (the Panama Canal Treaty) In 1977, Carter invited Egypt’s President Anwar Sadat and Israel’s Prime Minister Menachem Begin to Camp David, where an agreement was reached Israel returned the Sinai Peninsula to Egypt in exchange for a peace treaty and the establishment of normal relations In 1978, widespread demonstrations broke out against the Shah in Iran The Shah was a brutal dictator supported by the United States When the Shah fled the country, religious leaders hostile to Western influences seized control They resented America for helping the Shah and backing Israel In retaliation, Iranian students seized the staff of the U.S. embassy in Iran, holding them hostage for 444 days Negotiations finally led to their release, but only on the day Ronald Reagan became President President Ronald Reagan: Carter was defeated by Ronald Reagan in the Presidential election of 1980 Reagan believed strongly that individuals and businesses were better able to solve economic problems than the government was Reagan supported the policy of New Federalism first begun under President Nixon Reagan tried to solve stagflation with supply-side economics He believed a large supply of goods would decrease prices and stop inflation Under “Reaganomics,” he cut taxes on businesses and the wealthy
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