HIST 2112- Brought on a new suspicion of the government- Loss of Vietnam is still in everyone’s mindso Felt the government was lying to themo Lack of faith in government Still haven’t recovered- Watergate Scandal o 1973-1974o Nixon was a suspicious mano Try to steal documents and plant listening devices in Democratic party’s officeso Faith in government – never recovered- Hippieso Conservatives are mortified of themo Hated the freedom they had Didn’t conformo Liberals were turned off as well- End of prosperityo Domestic goal of liberalism is economic growtho Liberalism and affluence goes togethero If affluence disappears, you are in troubleo Why are we in an economic struggle? We are dealing globally Japanese cars are on the road- Cheaper- Better madeo Inflation Starts with Johnsono ‘Guns or butter’ issue Idea of economists As a nation, you could spend your money on- A war- Social issues- But not both LBJ spent it on both- Spent $300,000 per Vietcong killedo Oil Crisis of 1973 Getting 10% of our oil from overseas- Becoming dependent on foreign oil Israel goes to war- Egypt and Syria We had to cut it off for our support of Israel Gas panic nation wide Oil prices quadruple Modern day- $200 a gallon Really hurt because wages couldn’t keep up with inflation- Reagan lowers taxes to 28%- Goldwater believes in states’ rightso Ran against LBJo The only reason he won the deep southo Says he will get the federal government off his backo LBJ signed the Civil Rights Act as a southerner Southerners felt he was stabbing them in the back- Nixon also said he would get government off their backs- Bussingo Mixing black people in white schools and white people in black
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