Word: lbj
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Inflation, like the war, outlived LBJ and persisted under Nixon. The new Administration tried to control inflation by causing the 1969-1970 recession, which raised unemployment while failing to check inflation. During the recession and the year of stagnation which followed it in 1971, business profits fell. As a result, producers of goods as diverse as oil, cattle, and steel refused to commit the money needed to expand production until they were sure of rising demand, prices, and profits. During the boom of 1972-73, the past restrictions on production during a time of fevered boom had clear effects: inflation...
...with his back to the wall, Mr. Nixon has once again seen fit to sling a mudball. This time it is aimed at a man who is barely cold in his grave, President Lyndon Johnson. In a memo from J. Fred Buzhardt, it was alleged that LBJ was the slimy creature who initiated the policy of presidential phone taps...
What Mr. Nixon failed to mention was the fact that LBJ always notified the other party that the conversation was being taped. Apparently, this distinction was an insignificant detail for Nixon and his associates. And LBJ did not tape indiscriminately--he used taping only during two series of sensitive negotiations...
WHAT is really unacceptable in the vocabulary of the polite is talk of the aggressive war in Vietnam. Similarly, when antiwar students greeted President Johnson with chants of "Hey, hey, LBJ, how many kids did you kill today?", even the most antiwar liberal commentators deemed this a rude address, bereft of the reverence befitting the President...
Only in 1964 did the machine falter. The county joined LBJ's landslide victory over Barry Goldwater. Nether Providence, a township just south of Media, did not join the festivities. Goldwater won big there, as did Nixon in 1960, 1968, and 1972. The machine in Nether Providence clicked, whirred, and continued to hum, smoothly functioning as it is today...