Whipping inflation – then and now
In 1974, when the inflation rate was 11.04 percent, President Gerald Ford came up with a slogan: “Whip Inflation Now.” WIN buttons were manufactured by the millions and people were asked to wear them to demonstrate grassroots solidarity to combat the economic scourge. The campaign was later described by Martin Crutsinger in an Associated Press story titled “Ford’s WIN buttons remembered” as “one of the biggest government public relations blunders ever.” Today the inflation rate is 8.5 percent, up from 7.9 percent in February and the largest year-over-year rise since 1982. ...