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Military budgets rose while tax revenues, despite having increased as compared to the stagnant late 1970s and early 1980s, failed to make up for the spiraling cost. The 1981 tax cuts, some of the largest in U.S. history, also eroded the revenue base of the federal government in the short-term.
Fault Lines: A History of the United States Since 1974 (WW Norton, 2019), scholarly history. excerpt; Olson, James S. ed. Historical Dictionary of the 1970s (1999) excerpt; Richards, Marlee. America in the 1970s (Twenty-First Century Books, 2010) online. Sandbrook, Dominic. Mad as Hell: The Crisis of the 1970s and the Rise of the Populist Right ...
It led to double-digit interest rates that rose to unprecedented levels (above 12% per year). The prime rate hit 21.5 in December 1980, the highest in history. [18] A rising cost of housing was reflected in the average price of a new home in the U.S. The average price of a new home in the U.S. was $23,450 in 1970 up to $68,700 by 1980.
After experiencing declining homicide rates during the Great Depression, World War II, and during the initial Cold War, the U.S. homicide rate increased by a factor of 2.5 between 1957 and 1980 while rates of rape, assault, robbery, and theft experienced similar surges and did not return to comparable levels until the 1990s. [31] [32]
Younger people moved in and visited. ... By late 1970s and early ‘80s, Miami Beach, after its first heyday from the 1930s through the ‘60s, was a place in transition. ... in 1980s. Collins ...
After failing to gain traction during the weak and brief recovery from the 1980 downturn, weakness in manufacturing and housing caused by rising interest rates began to have an expanded effect on related sectors beginning in mid-1981. [2] Job losses resumed, this time expanding to nearly all employment sectors through the end of 1982.
April 7 – President Jimmy Carter decides to postpone production of the neutron bomb – a weapon which kills people with radiation but leaves buildings relatively intact. April 10 – The Volkswagen Westmoreland Assembly plant near New Stanton, Pennsylvania is dedicated, having begun production of the Rabbit, the North American version of the ...
The New Communist movement (NCM) was a diverse left-wing political movement during the 1970s and 1980s in the United States. The NCM were a movement of the New Left that represented a diverse grouping of Marxist–Leninists [ 1 ] and Maoists inspired by Cuban , Chinese , and Vietnamese revolutions . [ 2 ]