You two are on a roll.
Saying I agree with you. Twice.
Inflation was out of control since well before Nixon.
Remember that he instituted price and wage controls to deal with it unsuccessfully.
Carter was the guy who had the courage to let Volcker fix inflation. It was possibly the only positive outcome of his administration.
Now there is some good debate as to whether it was necessary to him to send the country into recession to do it.
There is no doubt that inflation was out of control and our government even tried new things to fix it…like Nixon’s “price freeze”. It was further exacerbated by a shortage of fuel and the “big three” all caught with their pants down building Battle Star Galacticas. Except for Dallas, the rest of the country was on it’s ass. Then the fed raised rates and continued until rates were so high that GM announced an incentivized rate of 13.9% in the fall of 1981 and it that sold lots of cars due to the current 18% rate. Then came lots of government spending under Reagan and things improved quickly. The good would have never happened unless the high rates took place first and STOPPED the run away inflation.
price freezes are not new and they don’t work.
you need to read more so you understand what other people are saying.
average gdp growth under carter was 2.7%. top tax rates were 70%, Reagan lowered to 50 then 28% with a democratic senate.for the 28%,
receipts went up after the tax cuts.
I got the gist of it
inflation was a problem from Viet Nam and the departure of the gold standard.
Carter was not that bad except for his foreign and domestic policy.