1960-1969

By Mike55577

  • Recession began

    A big economic downfall in the U.S economy due to stuff like poverty, unemployment etc.

  • Wage increase

    The minimum wage for workers increases from $1.00 an hour to $1.25 an hour.

  • Investment tax

    Gave business a 7% investment tax credit, tax cut

  • Stock Market Falls

    Stock Market falls/drops 6% In the U.S

  • Government spending increase

    John F. Kennedy increases government spending and cuts taxes to accelerate economic growth.

  • Inflation

    Inflation was stable but unemployment is really high, at 5.7%

  • Jobs Bill, Transit Bill

    Lyndon B. Johnson signs Jobs Bill, Transit Bill allocating $375 million for construction of urban transit systems.

  • Annual Dividend

    Johnson got an annual dividend of $4-5 billion from kennedy's economic plans.

  • Tax Reduction Act

    Johnson signs Tax Reduction Act, lowering income tax rates to 48%

  • Economic Opportunity Act

    Economic Opportunity Act supported health/education of the poor, passed by Lyndon B. Johnson

  • GNP

    GNP is at $9 billion

  • Medicaid

    Johnson creates Medicaid/Medicare to help the poor

  • Federal spending increase

    Johnson increases Federal spending as government launched new programs(Food stamps,etc)

  • Investment

    America's overseas investment increased to $49.2 billion.

  • Real Growth

    Real Growth is at 9% in U.S.

  • Congress

    Congress imposed a temporary 10% income tax surcharge.

  • Surcharge

    Surcharge becomes a law, tied to $6 billion budget reduction.

  • Housing discrimination Ban

    Housing discrimination Ban, discrimination of sale of privately owned homes

  • Low income housing bill

    Signs low housing bill, allocates $5 million for poor people

  • Low wage

    Nixon ignored low wage workers complaints so inflation increased to 6.5%.

  • Government failure

    Government failure to raise taxes accelerates inflation.