23. The Great Society was a period of significant economic growth
In 1962, Kennedy proposed cuts in the income tax rates at all levels, which were enacted in February 1964 under his successor, Lyndon Johnson. While Johnson’s Great Society is remembered, primarily by conservatives, as a time of “tax and spend” government growth, taxes actually were lowered, while the economy grew at a rate averaging 4.5% per year from 1961 – 1968. Unemployment fell below 5% in 1965, and remained at the level through the end of the Johnson Administration. The strong economy and the landslide Democratic victory allowed Johnson to move forward with his liberal domestic agenda (much of it carried over from Kennedy’s) quickly in 1965.
Although a later president would claim his first two years in office to be the most productive in history, accomplishing more in that time than any preceding president, he would be incorrect. The Johnson Administration presented to Congress 87 pieces of legislation, submitted by Democrats, and as President, Johnson signed acts resulting from them numbering 84, a success rate of 96%. Among them were acting creating Medicare, Medicaid, Head Start, truth in packaging legislation, environmental safety, higher education assistance, mass transit for cities, and many more, all while fostering continuing economic growth throughout his administration.