In the summer of 1974, Nixon resigned under the pressure of the Watergate scandal and was succeeded by Gerald Ford. With the war growing incredibly unpopular at home, combined with a severe economic recession and mounting budget deficits, Congress cut funding to South Vietnam for the upcoming fiscal year from 1 billion to 700 million dollars. Historians have attributed the fall of Saigon in 1975 to the cessation of American aid along with the growing disenchantment of the South Vietnamese people and the rampant corruption and incompetence of South Vietnam political leaders and ARVN general staff.