Jimmy Carter the inactive Navy Reserve until 1961, and left the service with the rank of lieutenant. His awards included the American Campaign Medal, World War II Victory Medal, China Service Medal, and National Defense Service Medal. Earl Carter died a relatively wealthy man, having also recently been elected to the Georgia House of Representatives. However, between his forgiveness of debts and the division of his wealth among heirs, his son Jimmy inherited comparatively little. For a year, Jimmy, Rosalynn, and their three sons lived in public housing in Plains; Carter is the only U.S. president to have lived in subsidized housing
Jimmy Carter draft. His campaign manager and former appointments secretary, Timothy Kraft, stepped down some five weeks before the general election amid what turned out to have been an uncorroborated allegation of cocaine use. On October 28, Carter and Reagan participated in the sole presidential debate of the election cycle. Though initially trailing Carter by several points, Reagan experienced a surge in polling following the debate. Carter was defeated by Ronald Reagan in a landslide, and the Senate went Republican for the first time since 1952. In his concession speech, Carter admitted that he was hurt by the outcome of the election