During the 1970s, the United States faced serious economic problems including inflation, a growing trade deficit and increasing unemployment. As the 37th President, Richard Nixon tried to restrict federal government spending and enacted price controls on wages and goods. He also reduced the value of the dollar by eight percent. So in comparison to the real penny, the Nixon penny is 8 times smaller. How do you think people felt about their money being worth less than it was before Nixon enacted his New Economic Policy in 1971? What clues does this Nixon penny give to you?

Nixon Penny

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