Economic Stabilization Act of 1970: Difference between revisions

4 bytes removed , 26 January

m

Text replacement - "Vietnam War" to "Vietnam War"

13,588

edits

@@ Line 48: / Line 48: @@
 ==Background==
-The nation was in recession, attributed to the [[Vietnam War]] {{Citation needed|date=April 2011}} combined with workforce shortages and the rise in healthcare cost. Nixon inherited high inflation, but unemployment was low. Seeking reelection in the 1972 presidential race, Nixon vowed to fight inflation and acknowledged that it would result in job losses but proposed that it was a temporary solution and promised that more was to come in terms of change, hope and "manpower".<ref name="Nixonomics">{{cite web|title=Nixonomics|url=http://www.presidentprofiles.com/Kennedy-Bush/Richard-M-Nixon-nixonomics.html|access-date=2011-03-15}}</ref>
+The nation was in recession, attributed to the Vietnam War {{Citation needed|date=April 2011}} combined with workforce shortages and the rise in healthcare cost. Nixon inherited high inflation, but unemployment was low. Seeking reelection in the 1972 presidential race, Nixon vowed to fight inflation and acknowledged that it would result in job losses but proposed that it was a temporary solution and promised that more was to come in terms of change, hope and "manpower".<ref name="Nixonomics">{{cite web|title=Nixonomics|url=http://www.presidentprofiles.com/Kennedy-Bush/Richard-M-Nixon-nixonomics.html|access-date=2011-03-15}}</ref>
 The Economic Stabilization Act of 1970 was passed, inaugurating a policy of wage and [[price controls]]. Nixon wrote to Congress:

Economic Stabilization Act of 1970 (view source)