Studied by 1 person
election of 1992, Ross Perot, Bill Clinton, Brady Bill, Anti-Crime Bill, National Rifle Association (NRA), Republican Revolution, Revolution of '94, Newt Gingrich, contract with America, Internet, globalization, North American Free Trade Agreement (NAFTA), World Trade Organization (WTO), International Monetary Fund (IMF), World Bank, Group of Eight (G8), top 1 percent
election of 1992
Republicans - renominated George H.W. Bush
Ross Perot - third party, serious challenger
Democrats win - Bill Clinton - moderate “New Democrat” focusing on the economy (jobs, education, healthcare), won back some of the south, majority elderly and blue-collar workers from Republicans
Clinton’s presidency
passed Family and Medical Leave Act, motor voter law, Brady Bill
Anti-Crime Bill (1994) - funded police protection and crime-prevention programs, banned sale of assault rifles, angering gun lobby led by National Rifle Association (NRA)
deficit reduction budget
balanced budget (1996) - Medicare and Social Security intact, limited welfare, curbed immigration, increased minimum wage, deficit eliminated 1998
re-elected 1996 - positioned himself as a moderate, Republicans as extremists, fast-growing economy
prioritized social security over tax cuts when deciding what to do with surplus revenues
Republican Revolution/Revolution of ‘94
Republicans gained control of both houses in Congress in the midterm elections of 1994
led by Newt Gingrich - representative, later speaker of the house
contract with America - Republican Congress’s list of policy prioritized, well-organized effort
technology and the changing economy
technological innovations - Internet increased national productivity and created e-commerce, other tech advancements
growth and development opportunities across the globe
economic boom in 1990s due to increased profitability of American business
globalization
surveillance capitalism and digital security risks arise, little regulation
globalization
increased trade and communication, movement of capital around the world promoted development of global and regional economic organizations
North American Free Trade Agreement (NAFTA) - signed by Clinton over objection of union leaders, created free-trade zone with Canada and Mexico
World Trade Organization (WTO) (1994) - established to oversee trade agreements, enforce trade rules, and settle disputes
International Monetary Fund (IMF) and World Bank - made loans and supervised economic policies of poorer nations with debt troubles
Group of Eight (G8) - world’s largest industrial powers 2000 (Canada, France, Germany, Italy, Japan, Russia, UK, U.S.), tensions caused by gaps between rich and poor nations
income and wealth
uneven distribution of wealth, top 1 percent held 43% of nation’s wealth, largest gap between lowest and highest paid workers, argued to be caused by decline of unions, concentration of wealth similar to Gilded Age
