"Inaugurates" most often means to introduce or to start something, for example a policy or period. It can also specifically refer to admitting someone into public office (i.e. "We will inaugurate the new president next week"), or signifying the first use of a public organization or project (i.e. "Will you be attending the park's inauguration on May 1st?").
The first one means that you tried to stop feeling nervous or you tried to swallow so much that you couldn't.
The second one means that you are getting more nervous, or anxious.
Hope this was helpful!!!^_^
