ECONOMIC POLICIES AND ACTIONS OF THE CARTER ADMINISTRATION
James Earl (Jimmy) Carter, Jr. was President of the United States from 1977 through 1980 (more precisely mid-January 1977 through mid-January 1981). He assumed the presidency at a time when the American economy was reeling because of a variety of factors, not the least of which were the effects of Arab Oil Embargo of 1973, continuing energy problems (price and supply), the economic and federal budget hangovers stemming from the disastrous Vietnam War. The economic effects (inflation, unemployment, and spotty growth especially) and energy effects (price and supply) were particularly acute.
He stepped into this mess with his own ideas as to how to put the economy back in shape and how to wean the country from foreign energy dependence. His reasoning, although logical, did not connect with a majority of the American public which was looking for quick fixes with little (read no) pain. This paper reviews some of the more relevant economic policies of President Carter and his administration. The emphasis is on the following: (a) fiscal policies; (b) reducing unemployment; (c) industry deregulation; and energy independence.
Each of these issues is directly related to economic policy. The Carter Administration was active in relation to each of these issues in relation to policy development and in relation to actions.
When Jimmy Carter became governor of Georgia in 1971, he introduced zero-based budgeting (ZBB) into that state's fiscal management activities, and six years later, when he became President, he introduced ZBB into the management of fiscal affairs in the federal government. By the end of the 1970s, the federal government, several state governments, and more than 100 major private sector corporations had adopted ZBB (Austin & Cheek, 1979).
ZBB requires budgeting entities to start over each fiscal year by justifying each item in its budget. This approach...