Presidency
Carter's tenure was a time of continuing inflation and recession, as well as an energy crisis. On January 7, 1980, Carter signed Law H.R. 5860 aka Public Law 96-185 known as The Chrysler Corporation Loan Guarantee Act of 1979, bailing out Chrysler Corporation. He cancelled military pay raises during a time of high inflation and government deficits.
Carter attempted to calm various conflicts around the world, most visibly in the Middle East with the signing of the Camp David Accords; giving back the Panama Canal; and signing the SALT II nuclear arms reduction treaty with Soviet leader Leonid Brezhnev. His final year was marred by the Iran hostage crisis, which contributed to his losing the 1980 election to Ronald Reagan.
Read more about this topic: Jimmy Carter
Famous quotes containing the word presidency:
“... how often the Presidency has simply meant that a man shall be abused, distrusted, and worked to death while he is filling the great office, and that he should drop into unmerited oblivion when he has left the White House ...”
—M. E. W. Sherwood (1826–1903)
“Some of the offers that have come to me would never have come if I had not been President. That means these people are trying to hire not Calvin Coolidge, but a former President of the United States. I can’t make that kind of use of the office.... I can’t do anything that might take away from the Presidency any of its dignity, or any of the faith people have in it.”
—Calvin Coolidge (1872–1933)
“I once told Nixon that the Presidency is like being a jackass caught in a hail storm. You’ve got to just stand there and take it.”
—Lyndon Baines Johnson (1908–1973)