Modern US History Review Flashcards

A set of vocabulary flashcards covering key events, figures, and economic theories in modern US history from the Great Society through the post-9/11 era.

"Trickle-Down" Theory

The goal for cutting taxes on the wealthy to encourage investment that creates jobs and raises wages for all.

The Iran-Contra Affair

A scandal involving illegal arms shipments to the Contra rebels through Iran and Israel that was prohibited by law.

National Debt (Reagan)

Nearly tripled, growing from about $1$ trillion to $2.8$ trillion due to tax revenue loss and increased military spending.

Mikhail Gorbachev

Soviet Leader who introduced the reforms of glasnost (openness) and perestroika (restructuring).

Glasnost

A reform introduced by Mikhail Gorbachev meaning openness.

Perestroika

A reform introduced by Mikhail Gorbachev meaning restructuring.

End of the Cold War

Symbolized by the fall of the Berlin Wall in 1989 and the official dissolution of the Soviet Union in 1991.

The New World Order

George H.W. Bush's vision for international cooperation where the US leads the world to maintain peace and stability.

1991 Persian Gulf War

A conflict that freed Kuwait and stopped Iraqi aggression but was criticized for leaving Saddam Hussein in power.

1990s Economic Growth

Characterized by massive job creation ($20+$ jobs), income increases of $10\%$, and low inflation, driven by technology and free trade.

NAFTA

The North American Free Trade Agreement, a key driver of the economic expansion in the 1990s.

Consequence of 9/11

Led to the 'War on Terror', invasions/occupations of Afghanistan and Iraq, and increased surveillance and intelligence gathering.

The Great Society

Demand-side policies with primary goals of ending poverty and racial injustice.

"Tangle of Pathologies"

The argument that Great Society anti-poverty policies caused dependency on government, damaged families, and began an American decline.

Stagflation

The combination of stagnant growth and rising inflation that characterized the economy in the 1970s.

Pentagon Papers

Classified documents that revealed the government was misleading the American people regarding the Vietnam War.

Watergate scandal

The domestic scandal that led to the resignation of Richard Nixon.

Iranian Hostage Crisis

An event that hurt confidence in the US government due to a failed attempt to rescue the hostages.

Federal Budget (1960-1980)

According to Reagan's 1981 address, the budget increased by $528$ percent during this period.

"Morning in America"

A phrase coined for Reagan's 1984 campaign to stress national redemption after the recovery.

Reaganomics

A "Supply-side" economic theory focusing on tax cuts for the wealthy and business along with removing regulations.

Reagan First Inaugural quote

"Government is the problem".