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 The price controls became unpopular

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jukido



Male Number of posts : 284
Registration date : 2011-07-04

PostSubject: The price controls became unpopular    Sun Aug 21, 2011 11:02 am

The price controls became unpopular with the public and businesspeople, who saw powerful labor unions as preferable to the price board bureaucracy.[101] Business owners, however, now saw the controls as permanent rather than temporary, and voluntary compliance decreased.[101] The controls produced food shortages, as meat disappeared from grocery stores and farmers drowned chickens rather than sell them at a loss.[101] The controls were slowly ended, and by April 30, 1974, the control authority from Congress had lapsed.[101] However, the controls on oil and natural gas prices persisted for several years.[97] Nixon also dramatically increased spending on federal employees' salaries while the economy was plagued by the 19731974 stock market crash.[178]
In his 1974 State of the Union address, Nixon called for comprehensive health insurance.[179] On February 6, 1974, he introduced the Comprehensive Health Insurance Act. Nixon's plan would have mandated employers to purchase health insurance for their employees, and in addition provided a federal health plan, similar to

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