Changes

Government spending caused interest rates to rise to unprecedented levels (above 12 percent per year). Inflation and interest rates reached their highest levels since [[World War II]].  The rapid change in interest rates led to disintermediation of bank deposits, which sowed the seeds of the [[Savings and Loan crisis]]. Investments in fixed income were becoming less valuable. Holders of both bonds, and pensions being paid to retired people had their life savings wiped out.  The stagnant growth of the economy (causing unemployment), in combination with a high rate of inflation, has often been called [[stagflation]], an unprecedented situation in American economics.

Government spending caused interest rates to rise to unprecedented levels (above 12 percent per year). Inflation and interest rates reached their highest levels since [[World War II]].  The rapid change in interest rates led to disintermediation of bank deposits, which sowed the seeds of the [[Savings and Loan crisis]]. Investments in fixed income were becoming less valuable. Holders of both bonds, and pensions being paid to retired people had their life savings wiped out.  The stagnant growth of the economy (causing unemployment), in combination with a high rate of inflation, has often been called [[stagflation]], an unprecedented situation in American economics.

[[Bert Lance]],  Carter's appointee to head the [[Office of Management and Budget]], the office that manages the U.S. federal budget, was forced to resign when his past bank overdrafts and "check kiting" schemes in Georgia were exposed.  

[[Bert Lance]],  Carter's appointee to head the [[Office of Management and Budget]] which manages the U.S. federal budget, was forced to resign when his past bank overdrafts and "check kiting" schemes in Georgia were exposed.

==Post-presidency==

==Post-presidency==