US President Gerald Ford and First Lady Betty Ford celebrate winning the nomination at the Republican National Convention, Kansas City, Missouri, August 1976. © REUTERS/John T. Bledsoe/US News & World Report Magazine Photograph Collection/Library of Congress/Handout
(New York, NY) — A famous newspaper headline is celebrating an anniversary. It was 50 years ago on October 30th when the New York Daily News posted a headline that read, “Ford To City: Drop Dead!” The headline shook the city to its core. As a comparison, if it were today, it would have gone viral.
Back then, President Gerald Ford, in a 35-minute speech thought city officials were reckless spenders and said he’d veto any bill that would bailout New York City. In 1975, Abe Beame was mayor of New York City and Hugh Carey was governor. Meantime, two months after his “Drop Dead” speech Ford changed his tune and approved over two-billion dollars in loans for the city. The city eventually repaid the loans with interest.
Looking back, Ford might have saved New York City, but he couldn’t save his political career. In 1976, he lost the presidency to Jimmy Carter.
