Gerald Ford announced a new package, complete with slogan and buttons - Whip Inflation Now. Rather than use the dreaded Tax-Word, Ford proposed a "surcharge" on individuals making over $7500 a year and families making over $15,000 a year (remember, this is 1974 when money was a little different and less funny then). The immediate effect was to squeeze the middle class and create more loopholes for those who could most afford it.

Ford envisioned a kind of World War 2 gung-ho attitude on the part of the American people, willing to sacrifice at the drop of a hat. The resulting effect was dramatically less so.