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Minimum Wage Increases
Minimum wage is increased from 75 cents to $1 per hour. -
Polio Vaccine
Soon after Salk's vaccine was licensed in 1955, children's vaccination campaigns were launched. The results were amazing: 60 – 70% prevention. The vaccination program saved more than $5 in direct costs and approximately $11 in additional costs to society. The annual number of polio cases fell from 35,000 in 1953 to 5,600 by 1957. By 1961 only 161 cases were recorded in the United States. -
Disneyland
Disneyland, the brainchild of Walt Disney, whose father had worked at previous world's fairs and inspired his son to build the iconic Magic Castle and other exhibits opens in Anaheim, California, with the backing of the new television network, ABC. Disneyland California remains today as one of the greatest theme park capitals of the world and some say is second only to his second park built some years later on the other side of the country, Disney World Florida. -
Stock Market Suffers
As a result of the President's heart attack, the stock market suffers. The market that had seen stocks triple on Wall Street in the previous seven years went into a tailspin, the Dow Jones plummeting over 6 percent and losing $14 billion in value by the end of what would prove to be the worst single day for markets since the start of World War II. -
Rosa Parks Starts The Montgomery Bus Boycott
It was the first example of the economic clout that the community had because eventually, the bus company had to desegregate their buses or face serious financial difficulties as very many black Americans used the buses. Without their economic input via fares, the bus company of Montgomery faced probable bankruptcy. -
Eisenhower Doctorine
Under the Eisenhower Doctrine, a country could request American economic assistance/aid from U.S. military forces if it was being threatened by armed aggression from another state. This kept countries economically independent and free from communism. -
Civil Rights Act of 1957
The goal of the 1957 Civil Rights Act was to ensure that all Americans could exercise their right to vote. The U.S. Congress approves the first civil rights bill since reconstruction with additional protection of voting rights. This affected the economy because it was another step in the Civil Rights Movement. -
Russians Launch Sputnik
Sputnik was the first artificial Earth satellite. This affected the U.S. economy because there was a new emphasis on science and technology in American schools. -
First U.S. Attempt To Launch
The first attempt by the United States to launch a satellite into space fails when it explodes on the launchpad. This was important to the economy because it showed that we were trying to win the space race over the Russians. -
Hawaii and Alaska Become States
The United States is growing. Also, Alaska's economy is based on the oil industry. Tourism is the second industry in the state. It brings about a billion dollars to the state economy. Travel and tourism is super important in Hawaii. They have tropical weather and beaches that attract tourists from all over. -
Tax Incentives
"The tax system must be adequate to meet our public needs. It must meet them fairly, calling on each of us to contribute his proper share to the cost of government. It must encourage efficient use of our resources. It must promote economic stability and stimulate economic growth. Economic expansion, in turn, creates a growing tax base, thus increasing revenue and thereby enabling us to meet more readily our public needs, as well as our needs as private individuals." -
President Kennedy Assasination
President Kennedy was shot by Lee Harvey Oswald as he was riding in a car during a parade in downtown Dallas. -
U.S. In Vietnam War
The Vietnam War was responsible for a heavy strain on the financial resources of the US economy. -
Creation of Medicare/ Medicaid
On July 30, 1965, President Lyndon B. Johnson signed into law legislation that established the Medicare and Medicaid programs. For 50 years, these programs have been protecting the health and well-being of millions of American families, saving lives, and improving the economic security of our nation. -
The Great Inflation
The great inflation begins - a period of time in which that the inflation is unusually high. The rise of inflation is what allowed for an excessive growth in the supply of money. -
MLK Assasniation
Martin Luther King Jr. was always working to form a coalition of poor Americans–black and white alike–to address such issues as poverty and unemployment. Ames Earl Ray ended up shooting Martin Luther King Jr. This was important because many blacks saw King’s assassination as a rejection of their vigorous pursuit of equality through the nonviolent resistance he had championed. -
Man On The MOON
Mission commander Neil Armstrong and pilot Buzz Aldrin land on the moon. The U.S. economy spends a lot of money to make this happen -
The 26th Amendment
The 26th Amendment is ratified, allowing 18-year-olds to vote. Not all people believed that this amendment had a positive effect on our nation. In fact, some people thought (and still think) that it is to blame for major governmental and economic collapses due to the under-educated voting. -
Microsoft Was Invented
Bill Gates founded Microsoft, which in time dominated the home computer operating system market.