Why did the federal budget deficit grow in the late 1960s?

-Presidents Johnson and Nixon cut taxes dramatically.
-The drop in foreign imports caused a loss in tariff revenues.
-Rising interest rates on the national debt became increasingly burdensome.
-The government spent large sums on the Great Society and Vietnam War.


The government spent large sums on the Great Society and Vietnam War.

History

You might also like to view...

In the mid-1700s, the slave population of South Carolina was nearly __________ that of the free population

A) half B) equal to C) twice D) three times

History

The Baroque-Rococo artistic style of the eighteenth century was

A) confined to France. B) expressed in the architectural works of Baron d'Holbach. C) evident in the masterpieces of Balthasar Neumann. D) characterized by strict geometric patterns and an emphasis on power. E) more severe and mathematical than the Baroque.

History

Deng Xiaoping

A. was the leader of Taiwan who helped bring about tremendous economic expansion. B. fled to Taiwan after the Chinese civil war. C. opened China to foreign, capitalist values. D. was the driving force behind the Great Proletarian Cultural Revolution. E. masterminded the Great Leap Forward.

History

The focus of the Greek economy during the Dark Ages was ______________.

A. the production of pottery B. metallurgy based in copper C. subsistence agriculture D. spice production E. the slave trade

History