Oh yes I remember this well, he froze wages and let prices go up, and wages have never caught up with prices since then. We were supposed to be allowed 5% and we negotiated that much and got it in on the 90 day time limit. The government sent it back and only let us have 3%. 1/2
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2/2 and said we were making to much to get the 5% and would only let us have 3%. Before this deal a loaf of bread was .80 cents a loaf. After this happened a loaf of bread jumped up to 1.40 cents. Thank you again Repubs
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Didn't work .. "Whip Inflation Now"
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Why do all of the televised Oval Office addresses from that time period include a false curtain partition that made it hard for the TV audience to even be able to tell it was an Oval Office address?
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Never understood that either. Also it bothered me Obama never took advantage of “the Oval Office address”...except for the BP spill.
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Care to weigh in,
@dick_nixon?
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What a terrible policy.
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And, perhaps more significantly, severed the dollar-gold link and imposed a 10-percent surcharge on imports.
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Stagflation.
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Wasn't that tagged Phase One later?
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I well remember the sh**storm it engendered...lol.
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Bad idea, Dick.
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