During Nixon's first term as President the US economy was suffering due primarily to

During Nixon's first term as President the US economy was suffering due primarily to  the expenses of the Vietnam War and the Great Society.

Explanation:

Richard Nixon's first term took place between 1969 and 1973, and his economy was characterized by high inflation of almost 5% per year, which forced Nixon to freeze prices and wages to curb the depreciation of the Dollar. This inflation was in turn generated by the high public spending of the federal government, which financed through this the costs of the war in Vietnam and the costs of social programs of the Great Society, which demanded not only high taxes but also monetary emission. which, as the dollar was up to then based on the gold pattern, generated a depreciation of the currency against said metal.