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In the 1950's and 1960's, America experienced an economic boom. The U.S. economy was strong and optimism was high for the future with many believing that the economy would stay strong and that poverty could be reduced.
President Lyndon B. Johnson addressed Congress and declared an "unconditional War on Poverty in America" and his ideas for a the Great Society
Between 1963 and 1968, LBJ's plans for a "Great Society" included new legislation and programs to help Americans living in poverty in the areas of New Housing Programs, Education, Environmental and Consumer Protection and Health and Welfare programs which include Medicare and Medicaid providing care for the elderly under social security.
The programs introduced by President Lyndon B. Johnson to meet his vision of the Great Society pumped large amounts of money into the economy without raising taxes. The numerous legislation passed resulted in a rise in the cost of goods, which spurred inflation, ultimately heralding the U.S. economic crisis in the 1970's referred to as stagflation. The economic policies of President Ronald Reagan in the 1980's, called Reaganomics brought an end to the recession.
Several of the Great Society programs have survived to the present day such as Medicare, Medicaid and Project Head Start. The Patient Protection and Affordable Care Act was passed on March 23, 2010 reduce the growing cost of Medicare and Medicaid.
Great Society Legacy: LBJ's vision of the Great Society failed in some areas but succeeded in many others. He was fearless in his beliefs, had a genuine interest in education and worked tirelessly to have all Americans treated fairly.
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