Herbert Hoover

-RElpulbli(::an president , 1929-1933

1- 1-'1<" '<1 of the Food Administration during WW1 (and was very successful )
, standoffish, and stiff, but known for his efficiency, integrity, and
manitarianism
naugurated in March 1929
Marketing Act (1929): helped the farmers help themselves by
establishing the Federal Farm Board which lent money to farm organizations seeking to buy,
sell , and store agricultural surpluses. The Farm Board then created both the Grain Stabilization
Corporation and the Cotton Stabilization Corporation (1930) that bolstered sagging prices by
buying up surpluses. But even the $500 million fund was not enough for all the surpluses, and
prices continued to drop.
-Then, the stock market crashed, breeding "Hoover blankets" (old newspapers) and
"Hoovervilles."
-Hawley-Smoot Tariff (1930): intended as a protective measure to assist the farmers, but turned
out to be the highest protective tariff in the nation's peacetime history, raising tariffs from 38.5%
to almost 60%. It increased international financial chaos and plunged both America and other
nations deeper into the depression.
-Hoover did not provide direct federal relief to the unemployed because he believed that the
"rugged individualism" of Americans needed to be upheld and that the U.S. economy will
eventually recover without government help.
-As the depression worsened, however, Hoover eventually consented to a "trickle-down"
philosophy. He secured $2.25 billion from Congress for useful public works such as the Hoover
Dam.
- Reconstruction Finance Corporation (1932): established a government lending bank with a fund
of $500 million that provided indirect relief (aka "pump-priming" loans) by assisting insurance
companies, banks, railroads, etc. However, it would not loan money to individuals.
-"Bonus army" marched to Washington , D.C. in 1932 to petition for an early cash payment of
their bonus certificate due in 1945. Hoover used the army to shoo them away and lost a lot of
popularity.
-From 1932 to 1933, Hoover engineered the foundation stones of the "Good Neighbor" policy that
Franklin Roosevelt would later adopt, by withdrawing troops from Nicaragua and Haiti and
abandoning the Roosevelt Corollary.
-Overall, Hoover is ranked - #28 out of 44 presidents.

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Important Events during Richard Nixon's Presidency
-He was the 37
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-Watergate Scandal
-Detente (Anti-Bellistic Missile Treaty)
-Vietnamization
-Part of the House Unamerican Activities Committee
-successor: Ford
-endorsed the equal rights amendment
-adopted affirmative actions
-apollo 11 (he encouraged)
-He signed the Selective Service Reform bill, ensuring that draftees are selected by a
lottery system.
-He signed an Emergency EmploymentAct, earmaking $2.25 billion for the creation of
public service jobs at state and local levels.
-increased Social Security benefits
-President Nixon traveled to China to try and encouraged peace and more contact
between two nations. He was the first to visit the country.
Jimmy Carter (1977-1981)
_39" PresidentoftheUnitedStates. (Democrat)
-Heenteredofficeduring aperiodof stagflation.
-Hecreatedtwo newcabinetdepartments:theDeportmentofEnergyandtheDeportmentofEducation.
-He wasawardedtheNobelPeace Prize in 2002. He wastheonlyUS Presidentto receivetheprizeafterleaving
office.
-He returned Panama Conal to Panama in the Panama Canal Treaties.
-1979 Energy Crisis
Carter encouraged energy conservation by all US citizens. (Oil and electricity)
OPEC raised its prices of oil during his presidency causing "oil shocks" in the United States.
He established a national energy policy. (Conservation, price control, and new technology)
-Camp David Accord/Egypt-Israel Peace Treaty
The Camp David Accords were thirteen days of secret negotiation between Israeli Prime minister
Menachem Begin and Egyptian President Anwar EI Sadat which began on September 17, 1978.
The Egypt-Israel Peace Treat y:
-Israel would establi sh a self-governing authority in the West Bank and Gaza Strip. Israel and Egypt would
recognize the "legitimate rights of the Palestinian people." The withdrawal of Israeli troops from West
Bank and Gaza after an election had taken place to replace the Israeli military government.
-Israel would withdraw its troops from the Sinai Peninsula and restore it to Egypt. Egypt would restore
normal diplomatic relations with Israel and guarantee passage through the Suez Canal and other
waterways. Egypt would be subject to possible restrictions on its forces in the Sinai Peninsula. Israel
would also limit its forces and guarantee free passage between Egypt and Jordan . Israel would also return
the Abu-Rudeis oil fields to Egypt.
-The United States would be committed to several billion dollars' worth of annual subsidies to the
governments of Israel and Egypt.
-Strategic Arms Limitation Talks II (SALT II)
SALT II was a series of negotiations between President Carter and Soviet Leader Leonid Brezhnev from
1972-1979. The agreement banned new missile programs, and discouraged the development of INF and
MIRV missiles.
-The Soviet Union invaded Afghanistan in 1979 during his presidency. Carter responded by boycotting the
1980 Summer Olympics in Moscow.
-Iran hostage crisis
52 American were held hostage for 444 days from November 4, 1979 to January 20, 1981 by a group of
Islamist students and militants who supported the Iranian Revolution. They took over the American
Embassy in Tehran .
A rescue operation was carried out on April 24, 1980 called Operation Eagle Claw. It was a failed mission
resulting in the death of eight Americans, one Iranian Ci vilian, and two destroyed aircraft s.
The hostages were released after the signing of the Algiers Accords.
-Three Mile Island Nuclear accident
It was a nuclear accident that occurred on one of the US nuclear reactors in Dauphin country,
Pennsylvania on March 28, 1979. It was the worst accident in the US commercial nuclear power plant
history.
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Bill Clinton:
Heis the42
nd
President, in officefrom 1993-2001
Thefirst DemocratsinceFranklinDelanoRooseveltto be electedto asecondterm.
Emphasized pro-growth, strongdefense,and anticrime policies
Lowestdeficit level in adecadeby 1996
WhitewaterScandal- TheWhitewaterscandalwasanAmericanpolitical controversy
that beganwiththereal estateinvestmentsofBillandHillaryClintonand their
associates,Jim and SusanMcDougal in afailed businessventurein theWhitewater
DevelopmentCorporationduring the 1970sand 1980s
emphasizedgun control
ColumbineHighSchool shootingwasduringhis presidency
worldtradecenterbombingoccurredduring his presidency
Clinton'spresidencyis America'slongest periodofeconomicgrowthin peacetime.
NorthAmericanFreeTradeAgreement(January 1, 1994) Immediately eliminatedtariffs
onmorethan one-halfofMexico'sexportsto theUnited Statesand one-third ofthe
United States exportstoMexico
Opened trade, endedtariffs on goodsand servicesand implemented abalance
betweentheUnited States,Mexico, and Canada
Clintonomicsfocus onthefollowing points:
Establishmentofafiscal disciplineand toeliminatethebudgetdeficit
Maintenanceoflow interest rates andthe encouragementofprivate-sector
investments
Theelimination ofprotectionisttariffs
Theinvestmentin the humancapitalintheform ofeducationand research
TheTelecomReform Act(February8, 1996):Dispatchedownershiprestrictionsonradio
andtelevision,agricultureand thepesticideslegislation(1996),and theFood and Drug
Administrationoverhaul(1997)
FamilyandMedicalLeaveAct(FebruaryS, 1993):Madepaternity, maternit y, and
medicalleaveavailable
TheMinimumwageIncrease Act(August20, 1996):Raised the minimumwageand
allowedstatestosetit higheriftheywished
Gramm-Leach-Bliley ActlFinancial ServicesModernizationAct(November 12, 1999):
Allowed banks, insurancecompanies,and investment housesto mergeand repealed the
Glass-Steagall Act
OmnibusBudgetreconciliationActlDeficitreduction Act!RevenueReconciliation
Act(August 10, 1993): A36-39.6%incometaxforhigh-incomeindividualsin the top
1.2%
Taxesraised 4.3centspergallonon transportationfuels
Taxableportionsof SocialSecurity benefitsincreased
TaxpayerReliefAct(August 5, 1997): Reduced federal taxes
Educational savingsand retirementfundsweregiven taxrelief
PersonalResponsibilityand WorkOpportunityActlWelfareReform(August 22, J996)
Added workforcedevelopmentcomponentsto welfarelegislationsand encouraged
employment forthepoor
TemporaryAssistancefor NeedyFamilies(July I, 1197): Provided cahsassistance
to Americanfamilies with dependentchildrenfrom theUnited StatesDepartment
ofHealth andHuman Services
Temporaryassistancethataimedtoget peopleoffassistancethrough
employmentand held amaximum of60monthsofbenefits
Passed laws that raise money in theUnited Statestreasuryand cutfederal spending
Worked to keepinflationrateslow; rate was at2.3%
Secondpresidentto beimpeached(December 19, 1998)
Chargedwithperjury and obstructionofjustice
Chargescamefrom theLewinskyscandal and thePaul Jones lawsuit
Acquitted bytheSenate;required two-thirdsmajorityand was 17 votesSh011 of
removing himfrom office