The Reagan Revolution

Résumé du document

During the 1950's and 1960's the United States enjoyed their position of Free Leader of the world implying a spectacular economic growth with a low unemployment rate and a dominant position in international debates. The Watergate crisis and the Vietnam war's bog cast a chill into the prosperous cycle of the US.

Ford came into office on August 9th, 1974 after Nixon's resignation. Following the Watergate scandal, Ford embodied the hope for transparency and honesty. But Ford's pardon former president «Now, therefore, I, Gerald R. Ford, President of the United States (...) do grant a full, free, and absolute pardon unto Richard Nixon for all offenses against the United States» as an intent to unite the nation made his approval rating plunging from 71% to 50% in a night.

Still more troubles were coming for Ford with the Arab oil crisis of 1973. Lead by the Organization of Petroleum Exporting Countries, the world oil prices increased by 70% putting an end to the era of cheap energy. This event entailed a series of terrible effects on the American economy. Indeed, the already profound inflation deepened at 12% annual rate while Ford tried to reduce it with his «Whip inflation Now» plan, an attempt to reduce taxes and spending's. As the consumer prices increased by 23 percents in the direct aftermath of the crisis, the United States witnessed a fall in their demand bringing down the employment rate with it. The increasing commercial competition coming from Europe and the Japan, as well as the large American baby boom workforce contributed to heighten the unemployment rate. Ford's presidency marked the beginning of the American recession.

Extraits

[...] Ford's presidency marked the beginning of the American recession. At the same time, even though Nixon had signed a cease fire agreement in Vietnam, The Mayaguez, a US merchant ship was seized by Cambodian rebels. Ford launched a mission rescue that ended in a bloodbath but improved his popular support. The Vietnam war appears to be endless for Americans. Former Nixon's vice president who was applauded for his simplicity and proximity to the people («I'm a Ford, not a Lincoln»[3]) ended his term under harsh criticisms and a large despair among the nation. [...]

[...] Ford came into office on August 9th after Nixon's resignation. Following the Watergate scandal, Ford embodied the hope for transparency and honesty. But Ford's pardon former president therefore, Gerald R. Ford, President of the United States ( . ) do grant a full, free, and absolute pardon unto Richard Nixon for all offenses against the United States»[1] as an intent to unite the nation made his approval rating plunging from 71% to 50% in a night. Still more troubles were coming for Ford with the Arab oil crisis of 1973. [...]

[...] In the US domestic affairs, the economic politicy led by Reagan was not without deterioration. Indeed, the Economic Recovery Act provoked a federal deficit increase, and was not planned for the long term issues. The social matter was also largely neglected by Reagan. Indeed, his presidency is characterized by an increasing gap between rich people and the poor ones : the millionaires were doubled and while poor were 11,7% in 1979 their number rose to 33,6. Single mothers, children and the minorities were the most affected by the phenomena whereas the middle class decreased. [...]

[...] Urban poverty tripled during the decade and blacks were the first victims. His presidency was marked by a good start in the international relationship with a clear decision from the President to support human rights, to develop a cordial relationship with the Soviet Union and a peace policy in the Middle East. Indeed, on March 1979, the Camp David Accords signed the Egyptian recognition of Israel as a sovereign state and the Sinai Peninsula return to Egypt. But his mandate was sullied by the Iranian Hostage crisis. [...]

[...] The demands would have cost 700 million dollars a year to taxpayers. Reagan gave them and ultimatum and finally fired 11 million of them which dealt a fatal blow to organized labor. In the Foreign domain, Reagan perpetrated some blunders that made the hostility of the Arab world and the South American continent grown. The Iran Contra Affaire was a secret agreement organized by the US government to help the Contras, the anti communists rebels in Nicaragua from the profits realized by the arms sale in Iran. [...]