After a thirteen-day summit hosted by US President Jimmy Carter at Camp David, Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin signed a peace agreement. As the first peace framework between Israel and any of its Arab neighbors, the agreement marked a historical change in the Middle East and a major accomplishment for Jimmy Carter, who played a major role in the negotiations.
President Jimmy Carter and Soviet leader Leonid Brezhnev signed the second Strategic Arms Limitation Treaty, which would have limited the number of strategic nuclear missiles in each country. Congress never approved the treaty.
Following the passage of the 1981 Economic Recovery Tax Act, the United States experienced what came to be known as the Reagan Recession—worse than the economic crisis of the Carter years and in fact the worst recession since the Great Depression. Unemployment peaked at nine million and 17,000 businesses failed. The economy began to recover in 1983.
Republican Ronald Reagan defeated incumbent Jimmy Carter for the presidency. Reagan’s campaign was aided by the poor economy and Carter’s failure to successfully put an end to the Iranian hostage crisis.
Thousands of US troops were sent to Haiti to restore the Haitian government that had been overthrown by military forces in 1990. Before a forced invasion could commence, however, a delegation led by Jimmy Carter negotiated with the country’s military government for a non-violent transition of power, allowing US and UN troops to enter the country as a peacekeeping and humanitarian force.