The 1948 Presidential election pitted Democrat Harry Truman against Republican Thomas Dewey. The Chicago Daily Tribune was so confident Truman was headed for defeat that they printed this headline before all of the votes had been counted. The sign on Harry Truman's desk read "THE BUCK STOPS HERE." By buck, he meant responsibility, and the bucks ran amuck on his desk.
The end of World War II brought a series of challenges to Harry Truman. The entire economy had to be converted from a wartime economy to a consumer economy. Strikes that had been delayed during the war erupted with a frenzy across America. Inflation threatened as millions of Americans planned to spend wealth they had not enjoyed since 1929. As the soldiers returned home, they wanted their old jobs back, creating a huge labor surplus. Truman, distracted by new threats overseas, was faced with additional crises at home.