1970

1
1970s
2
Oil Crisis

• Yom Kippur War
• Oil Crisis
• Imported 33 of our oil
• OPEC (Organization of Petroleum Exporting
  Countries) embargo
• Impact
• 1974 embargo lifted when Israel withdrew from
  occupied territory
• Auto makers in trouble

3
Fords Presidency

• OPEC continues to limit exports, driving prices
  up, creating shortages
• Chief issue inflation prices go up and value
  of dollar decreases
• WIN (Whip Inflation Now)

4
Carter Adminstration

• Causes of Economic downturn
• energy shortage
• Companies got big and did not respond well to
  changing technology
• Stagflation
• Spending on social programs increased creating a
  72 billion dollar deficit by 1980.
• Top tax bracket 70
• Discussed lowering taxes, but doesnt do anything
• Energy alternatives failed

5
Supply Side Economics

• Lower taxes more money in pockets
• More money in pockets increased
  spending/investing
• increased spending/investing economic growth
• economic growth more earnings for Americans

6
Reaganomics

• Reduce Growth of Government spending.
• Reduce Income Tax and Capital Gains Tax.
• Top tax bracket 28
• Reduce Government regulation.
• Control the money supply to reduce inflation
• IRAs
• Deficit spending