Carter worked hard to combat the continuing economic woes of inflation and unemployment. By the end of his administration, he could claim an increase of nearly eight million jobs and a decrease in the budget deficit, measured in percentage of the gross national product. Unfortunately, inflation and interest rates were at near record highs, and efforts to reduce them caused a short recession. There were serious setbacks, however. The Soviet invasion of Afghanistan caused the suspension of plans for ratification of the SALT II pact. The seizure as hostages of the U. S. embassy staff in Iran dominated the news during the last 14 months of the administration. The consequences of Iran’s holding Americans captive, together with continuing inflation at home, contributed to Carter’s defeat in 1980. Even then, he continued the difficult negotiations over the hostages. Iran finally released the 52 Americans the same day Carter left office.
inflation and interest rates were at near record highs, and efforts to reduce them caused a short recession. inflation and interest rates were at near record highs,
inflation and interest rates were at near record highs, and efforts to reduce them caused a short recession. inflation and interest rates were at near record highs,