Final answer:
During the Nixon presidency, there was an interrelationship between fiscal trends and reform efforts. Nixon embraced and expanded many features of the Great Society, implemented his 'New Federalism' approach, and addressed economic challenges like inflation and unemployment.
Step-by-step explanation:
The historical interrelationship between fiscal trends and reform efforts during the Nixon presidency can be seen through Nixon's domestic policies and economic challenges. Nixon embraced and expanded many features of the Great Society, such as federalizing the food stamp program and establishing national eligibility requirements. He also implemented his 'New Federalism' approach, which involved expanding the use of federal 'block grants' to states. On the economic front, Nixon tried to address inflation and unemployment through a combination of austerity and deficit spending. His policies included increasing spending for entitlement programs, such as Social Security and Medicare, and creating the Occupational Safety and Health Administration (OSHA) to enforce workplace safety regulations.