purchasing power to the oil-producing companies. "Inflation, strong demands for

credit, and the unwillingness of the monetary authorities to underwrite a continued

acceleration of inflation drove interest rates upward, causing a slump in

housing."(The Economic Report of the President 1975) Another weakening effect of

the higher and "variable" rate of inflation was how uncertain the nation was

regarding future rates of price increase.

When 1975 began, the unemployment rate was at the highest level it had

been in seventeen years. Production and unemployment

Some common words found in the essay are:
Union Address, Report President, Gerald Ford, President Ford, ford proposed, President Ford's, ford proposed tax, Economic Report, economic report president, report president, union address, unemployment rate, total energy, economic report, proposed tax, income tax,
Approximate Word count = 476
Approximate Pages = 2 (250 words per page double spaced)