History of the United States II / Unit 15 USH2 2134 short lesson, about 20 seconds
Recession and Deficits
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The idea
By mid-nineteen seventy a recession had begun and unemployment reached six point two percent, twice the level under Johnson, the anchor records.
In practice
Deficit budgets of eleven billion dollars in nineteen seventy-one and twenty-five billion the next year, and a ninety-day wage and price freeze.
Where people slip
Digital History blames war spending, social spending and foreign competition.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Unlocks
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