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Stagflation
Economic conditions in the 1970s characterized by high inflation and high unemployment rates from a combination of stagnant economic growth and increased oil prices.
Sunbelt
The warmer southern region of the United States with an increase in military investment and spending in technology, cheaper housing, and more job opportunities. This led to an increase of people moving south.
Rustbelt
Midwest area - Ohio, Michigan, Pennsylvania - with steel plants and auto manufacturing.
Moral Majority
Political organization that campaigned for more traditional family values. They were against the ERA, softening the stance on communism, LGBTQIA+, abortion rights, but wanted to reintroduce prayer in schools. Economic conservatives who wanted less government involvement in business and to reduce taxes joined them.
Supply-Side Economics
Based on the idea that if entrepreneurs and businesses had more money then it would allow them to expand production and grow the economy out of debt. Also known as Reaganomics.
Reaganomics
Ronald Reagan’s economic theory to get the US out of debt.
Iran-Contra
Contract with America
Republicans, such as Newt Gingrich, pledged to financially audit Congress for fraud and waste, propose a balanced budget, introduce small business tax cuts, enact term limits for legislatures, and reform social security and welfare entitlement programs.
NAFTA
The North American Free Trade Agreement in 1992, eliminated or reduced tariffs between the US, Mexico, and Canada so that goods could freely flow across international borders. Worried the working class of America.
War on Terror
Military campaign launched by President Bush after 9/11. Sought to improve security within the United States but also raised questions about the protection of civil liberties and human rights.
Patriot Act
Law passed in 2001 after 9/11 which gave the federal government new tools to track terrorist activity and monitor suspicious individuals.
Affordable Care Act
2011 law that attempted to deal with the high cost of medical care in the US. At its core it was a mandate that all Americans get health insurance like providing cheap insurance to low-income Americans. Obamacare.