492 CHApTEr 22 | a ConSerVatiVe tenor | period nine 1980 to the present TopIC^ I^ |^ an end to the twentieth Century^493493
only to suffer the agony of Vietnam. We respected the presidency as a place of
honor until the shock of Watergate.
We remember when the phrase “sound as a dollar” was an expression of abso-
lute dependability, until ten years of inflation began to shrink our dollar and our
savings. We believed that our nation’s resources were limitless until 1973, when
we had to face a growing dependence on foreign oil.Jimmy Carter, Public Papers of the Presidents of the United States, Jimmy Carter: 1979,
Book 2, June 23 to December 31, 1979 (Washington, DC: Government Printing Office, 1980),
1237.prACTICIng Historical Thinking
Identify: Summarize Carter’s attitude toward America’s past.
Analyze: Is Carter’s speech more optimistic or more pessimistic about the future?
Cite evidence to explain your response.
Evaluate: How does Carter’s concern about loss of respect for the presidency rep-
resent a shift in thinking about the role that the president plays in the lives of
American citizens?Document 22.2 reginald Stuart, “Michigan requests
Federal loan to Bolster unemployment
Fund,” New York Times
1980Beginning in the 1970s, American businesses began to shift industrial production to over-
seas manufacturers and to lose customers to new foreign competitors. According to this
New York Times article from January 17, 1980, Detroit, Michigan, the heart of the Ameri-
can automobile industry, was especially hurt by competition from Japan.The state of Michigan, its economy shaken by the prolonged slump in the nation’s
automobile industry, has asked the Federal Government for a $260 million loan
so it can continue paying unemployment benefits over the next three months,
the Michigan Employment Security Commission disclosed today.
Gov. William G. Milliken requested the funds from the Department of Labor,
stating that a rising load of unemployment claims and the repayment of earlier
Federal loans would “exhaust” Michigan’s unemployment compensation trust
fund, although no specific time was given. By law, according to the employment
commission, such requests must cover a three-month period, and Michigan’s
request will carry the fund from Feb. 1 through April 30, it said....23_STA_2012_ch22_489-522.indd 493 17/04/15 11:34 AM