Studied by 2 people
Reaganomics
Economic system implemented by Reagan, emphasized tax cuts, supply size economics, and deregulation (airline, auto)
Moral Majority
Conservative political movement advocating for traditional Christian values
Effects of reaganomics
Trickle down economics led to increased wealth disparity
Economic growth, wage growth
Increase in debt and deficits
Iran Contra Affair
Reagan Administration sold arms to Iran, used that money to provide financial aid to anti communists in Nicaragua
SDI or Star Wars
Reagan proposed a missile defense system to protect US from nuclear attack, failure
Reagan and Gorbachev
Eased tensions between Soviet Union and US by meeting with Gorbachev, ended the Cold War
Gorbachev, ordered by Reagan, tore down the Berlin Wall
Election of 1988
George HW Bush Elected!!
Persian gulf War (Desert Storm)
Liberate Kuwait from Iraq’s invasion, protect oil reserves, considered a success
Why did Bush Lose
Economic recession forced him to break his policy of “no taxes"
3rd Party Candidate Ross Perot
Election 1992
Bill Clinton elected
Clinton’s Promises
Lifting ban of lgbt people of enlisting in the armed forces
Don’t Ask, Don’t Tell Policy
Military authorities were forbidden to ask about a service member's orientation, and gay service personnel could be discharged if they publicly revealed their homosexuality
NAFTA
Clinton established, aimed to reduce trade barriers and promote economic cooperation in NA
Omnibus Budget Reconciliation Act
(Clinton) Sought to reduce federal budget deficit with spending cuts and tax increases
Clinton’s Impeachment
Charged against Clinton of lying under oath and obstruction of justice (affair with Monica Lewinsky)
Election of 2000
George W Bush (son of HW) gets elected
Gore v. Bush - Even though Al Gore won the popular vote, the election was ultimately decided by the electoral votes of Florida. Bush barely won
Great Recession 2008
Lack of oversight in the financial industry like poor lending practices led to housing crisis
No Child Left Behind Act
Set standards for academic achievement and held schools accountable for student performance
War on Terror
9/11 Al Qaeda attacked World Trade Center
USA Patriot Act
Increased surveillance and law enforcement powers to combat terrorism
Operation Iraqi Freedom
Removed weapons of mass destruction in Iraq and bring down Sadam Hussain
Operating Enduring Freedom
Ending taliban and Al Qaeda and finding Osama Bin Laden
Election of 2008
Barack Obama president, first black president of the US
Obamacare
Aimed to expand healthcare access to millions
American Recovery and reinvestment Act
(Obama) Sought to stabilize economy, create jobs, prevent future economic collapses
Globalization
Interdependence between nations, opened up new markets and increased competition in manufacturers overseas
Rust Belt
North and Mid western states that were once centers of manufacturing but declined as a result of globalization and automation
Sun Belt
Southern and southwestern states that saw population growth because of good weather, favorable business conditions, low taxes
Technology
Increased globalization, changed culture, blah blah blah
