Today in history: Jimmy Carter's 'malaise' speech

July 15, 1971: A stunning announcement from President Nixon: He would visit communist China in early 1972. Nixon's journey to China, arguably the most dramatic trip ever taken by a president, opened the door for increased ties and competition between the two superpowers. It also marked China's emergence into the modern world.

July 15, 1979: In a primetime speech, President Carter warned that the U.S. was threatened by a lack of "moral and spiritual confidence." He said America's lack of confidence was to blame for an ongoing recession, and was a "fundamental threat to American democracy." The speech is often referred to Carter's "malaise" address, though he never actually used that word.

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