The 1970s are described as a period of stagflation, meaning economic stagnation coupled with price inflation, as well as higher interest rates.
Price inflation caused interest rates to rise to unprecedented levels (above 12% per year). The prime rate hit 21.5% in December 1980, the highest rate in U.S. history.
The economy suffered double-digit inflation, coupled with very high interest rates, oil shortages, high unemployment, and slow economic growth.
The Soviet invasion of Afghanistan marked the end of détente, and I did nothing.
From November 4, 1979 until January 20, 1981, a 444-day period, I sat with my thumb up my arss while 63 americans were held hostage in Iran.
Unlike, GWB, when I ran for re-election I lost 44 states and was completely humiliated in one of the worst landslides ever…..because I was the worst president in history!
My years since have been spent supporting the terrorists in Palestine and building dog houses!
My Name is Jimmy Carter!
2007-08-02
13:39:45
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18 answers
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Politics