The News Not Noise Letter: Did Jimmy Carter Predict the Future?
A different look at Jimmy Carter’s presidency and some surprising parallels to our current moment.
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We’re hearing a lot about President Jimmy Carter right now, but mostly about his considerable post-presidency achievements. He is unique among US presidents in that he’s more celebrated for his work out of office than in.
His single term in the White House from 1977-1981 was widely considered “ineffective” and even “failed.”
But we’re wondering whether his leadership in Washington was more consequential than conventional wisdom suggests. Here’s a closer look at some of Carter’s accomplishments and missteps as president.
What were Carter’s biggest challenges?
Record-High Inflation: During his presidency the US saw record-high 14.6% inflation.
High Unemployment: Rates hovered between 5.6% and 7.5%.
High Interest Rates: The Fed interest rate reached near 20% on his watch.
Stagflation: Carter couldn’t lead the economy out of stagflation – soaring inflation and unemployment rates combined with slow or stagnant growth.
Iran Hostage Crisis: He was unable to rescue more than 50 Americans who were held hostage in Iran for more than 440 days. It happened after Ayatollah Khomeini seized power in 1979 in the Iranian Revolution, establishing the Islamic Republic. The hostage crisis played out on TV during Carter’s re-election campaign and helped seal Reagan’s victory. The hostages were released mere minutes after Reagan was inaugurated.
Oil Shortage: As a result of the instability in the Middle East, the US was plagued with gas lines. Oil was in such short supply Americans were assigned “gas days” which were the only days on which you were allowed to get fuel. I remember sitting in the car waiting in line with my mom – engine off to save fuel while we waited. This didn’t improve Americans’ view of Carter’s leadership. Carter said that “this intolerable dependence on foreign oil threatens our economic independence and the very security of our nation.”
So what did President Carter actually accomplish?
Camp David Accords: Jimmy Carter brought Israel and Egypt together for the Camp David Accords. This led to the first peace treaty between Israel and an Arab neighbor.
National Parks: Carter more than doubled the land area protected by the National Parks Service.
Energy: President Carter established the Department of Energy.
Education: He also created the Department of Education.
