Question

How did Ford and Carter try to fix economic problems, and why didn't their plans work?

Answer 1

@wwhitlock

Answer 2

Ford's plan was mostly a cheer leading attempt to rally the American people to save more and not run up so much debt. Not much policy to speak of. Lots of people wore WIN buttons (Whip Inflation Now).
1974-75 was the OPEC oil embargo recession. Ford just sorta rode that one out of office.
Carter enjoyed a growing economy that picked up at the end of Ford's administration in 1976. Ford was some what of a lame duck because of all the leftover Watergate animosity.
Carter had democratic controlled congress the first two years of his presidency. But he couldn't do much. Consumers were spending, things seemed to be going well. But interest rates went sky high, and people were carrying lots of debt, and inflation just kept going up. All Carter's plans in every aspect of his presidency hit the rocks with the Iran Hostage Crisis. That really consumed the last two years of his administration. They economy cooled of but so much so that it fell in to a deep recession. Carter was seen as ineffective as the Iranian's seemed to be able to toy with a superpower without reprisal.

Answer 3

Gerald Ford was only President for two years to took over after President Nixon resigned as President on August 9, 1974 until January 1977. He also was only Vice President from 1973 to August 1974 after Spiro Agnew resigned. He faced the OPEC Oil embargo of 1974, which quickly raised the price of Oil, Gasoline, Diesel, and home heating Oil

Answer 4

Ford tried to fix economic problems by using "initiative". His initiative was to have people grow more food and drive less to stop the trend of increasing prices. Carter's plan was to raise taxes on top of income 70%.
Their plans did not work because their plan created massive job losses and even more inflation. In 1980, inflation was over 20%.