The real culprit here is Richard Nixon. Had he not **ed up with Watergate the Democrats and Libs would never have been so empowered as to hand over S.V. to the VC, dismantle the US Armed Forces, and blow kisses to the Soviet Union. Ford led the nation while handcuffed, and his Cabinet, Rummy included, were acting on orders of Congress, not the Executive.
The other problem with Nixon was his inane price control regime -- of which said Donald Rumsfeld was the Czar. But at least Nixon recognized that it was stupid, as did Ford. Jimbo Carter actually believed in Price Controls, and damned near dismantled capitalism over 'em.
Basically, the 1970s sucked.