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A photograph shows President Nixon seated at a desk by several microphones, holding papers as he prepares to address the nation.
In April 1974, President Richard Nixon prepares to address the nation to clarify his position on releasing the White House tapes.

At the end of its hearings, in July 1974, the House Judiciary Committee voted to impeach. However, before the full House could vote, the U.S. Supreme Court ordered Nixon to release the actual tapes of his conversations, not just transcripts or summaries. One of the tapes revealed that he had in fact been told about White House involvement in the Watergate break-in shortly after it occurred. In a speech on August 5, 1974, Nixon, pleading a poor memory, accepted blame for the Watergate scandal. Warned by other Republicans that he would be found guilty by the Senate and removed from office, he resigned the presidency on August 8.

Nixon’s resignation, which took effect the next day, did not make the Watergate scandal vanish. Instead, it fed a growing suspicion of government felt by many. The events of Vietnam had already showed that the government could not be trusted to protect the interests of the people or tell them the truth. For many, Watergate confirmed these beliefs, and the suffix “-gate” attached to a word has since come to mean a political scandal.

Ford not a lincoln

When Gerald R. Ford took the oath of office on August 9, 1974, he understood that his most pressing task was to help the country move beyond the Watergate scandal. His declaration that “Our long national nightmare is over. . . . [O]ur great Republic is a government of laws and not of men” was met with almost universal applause.

It was indeed an unprecedented time. Ford was the first vice president chosen under the terms of the Twenty-Fifth Amendment, which provides for the appointment of a vice president in the event the incumbent dies or resigns; Nixon had appointed Ford, a longtime House representative from Michigan known for his honesty, following the resignation of embattled vice president Spiro T. Agnew over a charge of failing to report income—a lenient charge since this income stemmed from bribes he had received as the governor of Maryland. Ford was also the first vice president to take office after a sitting president’s resignation, and the only chief executive never elected either president or vice president. One of his first actions as president was to grant Richard Nixon a full pardon ( [link] ). Ford thus prevented Nixon’s indictment for any crimes he may have committed in office and ended criminal investigations into his actions. The public reacted with suspicion and outrage. Many were convinced that the extent of Nixon’s wrongdoings would now never been known and he would never be called to account for them. When Ford chose to run for the presidency in 1976, the pardon returned to haunt him.

A photograph shows Gerald Ford seated at a desk with a sheet of paper before him, speaking into a microphone.
In one of his first actions as president, Gerald R. Ford announced a full pardon for Richard Nixon on September 8, 1974. Nixon had appointed Ford vice president after the resignation of Spiro Agnew.

As president, Ford confronted monumental issues, such as inflation, a depressed economy, and chronic energy shortages. He established his policies during his first year in office, despite opposition from a heavily Democratic Congress. In October 1974, he labeled inflation the country’s most dangerous public enemy and sought a grassroots campaign to curtail it by encouraging people to be disciplined in their consuming habits and increase their savings. The campaign was titled “Whip Inflation Now” and was advertised on brightly colored “Win” buttons volunteers were to wear. When recession became the nation’s most serious domestic problem, Ford shifted to measures aimed at stimulating the economy. Still fearing inflation, however, he vetoed a number of nonmilitary appropriations bills that would have increased the already-large budget deficit.

Ford’s economic policies ultimately proved unsuccessful. Because of opposition from a Democratic Congress, his foreign policy accomplishments were also limited. When he requested money to assist the South Vietnamese government in its effort to repel North Vietnamese forces, Congress refused. Ford was more successful in other parts of the world. He continued Nixon’s policy of détente with the Soviet Union, and he and Secretary of State Kissinger achieved further progress in the second round of SALT talks. In August 1975, Ford went to Finland and signed the Helsinki Accords with Soviet premier Leonid Brezhnev. This agreement essentially accepted the territorial boundaries that had been established at the end of World War II in 1945. It also exacted a pledge from the signatory nations that they would protect human rights within their countries. Many immigrants to the United States protested Ford’s actions, because it seemed as though he had accepted the status quo and left their homelands under Soviet domination. Others considered it a belated American acceptance of the world as it really was.

Section summary

In 1972, President Nixon faced an easy reelection against a Democratic Party in disarray. But even before his landslide victory, evidence had surfaced that the White House was involved in the break-in at the DNC’s headquarters at the Watergate office complex. As the investigation unfolded, the depths to which Nixon and his advisers had sunk became clear. Some twenty-five of Nixon’s aides were indicted for criminal activity, and he became the first president impeached since Andrew Johnson and the first to resign from office. His successor, Gerald Ford, was unable to solve the pressing problems the United States faced or erase the stain of Watergate.

Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
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Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
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Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
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hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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