Presidents Who Created Financial Blunders
2. Jimmy Carter
Presidential term: January 20, 1977 – January 20, 1981
Jimmy Carter was the 39th president of the United States. Jimmy Carter was a great human but not a good president. Despite the fact that Carter had gained internationally recognition for his humanitarian work but his political career is hardly creditable.
Also Check Out: 10 Most Unusual Insurance Policies
Carter in an ill-fated attempt to reduce America’s dependency on foreign oil abolished the government’s regulatory power over deciding domestic oil pricing. Due to which the foreign oil producers came together and formed a union for price-fixing. Hence the oil prices started rising high, causing sizeable inflation which then caused a massive recession in America. The nation’s economy recession also caused huge unemployment problems. For all the economic blunders Carter did, he did not get re-elected in the next presidential election of 1981 and Ronald Reagan defeated Carter with a huge victory and became the next U.S. president.
Also Check Out: 10 Strategies Riches Practice to Avoid Taxes