July 1981–November 1982

People:

• Pres. Ronald Reagan

Description:

• Unemployment rate at 10.8%

• High interest rates

• High rates of homelessness

• Caused by second energy crisis

Significance:

• High rate of bank failures

• Contributed to the Latin American debt crisis

• Federal reserve lowered interest rates

• Inspiration for policies to help with high inflation and excessive debt

Lucy Drake

Definition: Goal was to stimulate the economy during the Great Recession. It included tax cuts, loan guarantees, and focusing financial assistance on families and education.

Significance: Total economic output was increased by $1.30 and it had a ripple effect through different measures to help stabilize the economy.

Signed into law on March 23, 2010

People:

• Pres. Obama

• Nancy Pelosi

• Harry Reid

• Kathleen Sebelius

• Nancy-Ann DeParle

• Jonathan Gruber

Description:

• Also known as Obamacare

• US citizens have to have health insurance

• Created marketplaces where insurance companies exchanged healthcare plans

• Lower-income individuals got tax credits to help afford insurance

• Expanded Medicaid

• Health plans needed to cover more

• Employers must offer life insurance

• Dependent coverage until age 26

Significance:

• Expand healthcare access

• Medicaid expansion

• Helped provide insurance for low-income individuals

• Helped people with pre-existing health conditions

• Covered maternity care, preventative care, mental health services, and prescription drugs

Lucy Drake

Took effect on January 1, 1994

People:

• Pres. Bush

• Pres. Clinton

• Carla Hilla

• Warren Christopher

• Newt Gingrich

• Al Gore

Description:

• North American free trade agreement

• US, Canada, and Mexico aimed to eliminate trade barriers

• Increase trade and investment Between the countries

• Reduced tariffs, eliminate barriers to trade, same regulations for agriculture, automobiles, and other services

• Replaced with USMCA

Significance:

• Increase in trade between countries

• Increase jobs

• Expand businesses

• Helped US become more competitive in the global market

• Gained trust between the countries

• Labor standards

• Regulations

Lucy Drake

December 2007-June 2009

People:

• Pres. Hoover

• Pres. Roosevelt

• Andrew Mellon

• JP Morgan

Description:

• Economic downturn that started in the US and spread to the rest of the world

• Collapse of housing market

• Tons of people lost jobs, homes, and savings

Significance:

• interconnectedness of the world

• Decline in consumer spending

• Decline in investment

• Employment rate decreased

• Led to policies to prevent future crisisis

• After, most countries faced low growth

• Loss of trust in government

Lucy Drake

October 26, 2001

People:

• Pres. Bush

• John Ashcroft

• Robert Mueller

• Patrick Leahy

• Dick Armey

Description:

• Known as the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act

• Response to 9/11

• Aimed to increase law enforcement and intelligence agencies to prevent terrorism

• Increased wiretaps, communications, and agencies

Significance:

• possible infringement of personal security

• Strengthened national security

• Strengthened against attacks against terrorism

• Effective communication between different branches of government and enforcement agencies

  
  

  Lucy Drake

  
  

August 23, 2005 - August 31, 2005

People:

• Gov. Kathleen Blanco

• Mayor Nagin

• Michael Brown

• Pres. Bush

Description:

• category 5 hurricane

• Hit Louisiana on Aug 29

  • Destruction

  • Flooding

  • Heavy winds

• Damaged 80% of New Orleans

Significance:

• about 1800 dead

  • Could not find shelter

• Many homes destroyed

• Slow aid provided —> highlighted need for improved response

• African Americans effected more because they were unable to find shelter

Lucy Drake

Definition: Clinton was accused of perjury before a grand jury, so he was impeached. He also had an affair with Monica Lewinsky, a White House intern and was also accused of sexual harassment by another woman in the White House.

Significance: Clinton’s impeachment led to Speaker of the House Newt Gingrich‘s resignation. it also led to other men being fired and accused of similar things. Clinton was suspended from US Supreme Court and his law license was taken for five years.

Definition: After 9/11, American and British forces came together to attack and destroy Al-Qaeda and stop the Taliban. The goal was also to stop Saddam Hussein from keeping power and using his weapons of mass destruction.

Significance: The War on Terror’s goal was to fight all terrorist groups and to prevent what happened on 9/11 from ever being able to occur again. It is still in effect today and is an ongoing fight.

Definition: It increased the federal income tax from 31% to 39%. It also included $255 billion in spending cuts over a 5 year period of time.

Significance: It showed that debt and deficit reductions could be possible and effective if done in a good way. It caused Republicans to criticize Clinton because they did not support the bill.

Definition: It regulates trade between participating countries and provides a framework for trade and settles trade disputes. Most issues that are addressed are derived from previous trade disputes.

Significance: The WTO has helped and continues to help raise people’s standards of living, create jobs for people, create peace, and improve peoples lives. It helps developing countries build their trade capacity which will help them get out of that “developing” state.

Definition: Reagan produced the Reagan Doctrine to fight communism. When Gorbachev came into power, he instated two policies of political openness and economic reform. Slowly, communist governments were replaced with noncommunist ones and then the Berlin Wall fell, sealing the end of the war.

Significance: The end of the Cold War signified the beginning of the end of communism. Communist regimes were falling apart and communism was dying. The US had a new wave of confidence to have defeated and moved past the era that was the Cold War.

Definition: Ronald Reagan's time in office from January 20, 1981 - January 20, 1989.

Significance: Ronald Reagan's presidency was significant because it marked the beginning of the Conservative Revolution as conservative values resurfaced in America. During his presidency the economy also thrived due to tax cuts, lack of government intervention within the economy, and heavy monitoring of inflation. Reagan also worked to end the Cold War due to his strong stance against communism and foreign negotiations with Russia.

Definition: George H. W. Bush’s time in office from January 20, 1989 - January 20, 1993.

Significance: George H. W. Bush’s Presidency was significant because the Cold War ended within the first year of his administration. Bush also had a very successful foreign policy while in office seen through the expansion of NATO. Operation Desert Storm was also a defining moment in his presidency as he successfully sent troops to defeat the Iraq troops in Kuwait. However, Bush struggled economically as their was a recession during his presidency, leading to his defeat when he ran for reelection.

Definition: Bill Clinton's time in office from January 20, 1993 - January 20, 2001

Significance: Bill Clinton's presidency was significant as the economy saw large growth due to tax increases for wealthy Americans and since promoted free trade agreements like NAFTA. Clinton worked to reform welfare in America seen through the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, which set time and other limits at work and promoting self-sufficiency. However, Clinton was eventually impeached in 1998 after having an affair with Monica Lewinsky.

Definition: George W. Bush's time in office from January 20, 2001 - January 20, 2009.

Significance: George W. Bush’s Presidency was significant due to the events that happened within his administration such as Hurricane Katrina, Iraq War, 9/11, etc. Bush's economic polices included cutting taxes, however, this led to greater national debt.

Definition: Barack Obama's time spent in office from January 20, 2009 - January 20, 2017.

Significance: Barack Obama's presidency was significant because of his ending of the Iraq War and him sending troops to Afghanistan, Affordable Care Act, his stance on marriage equality and climate change, and recovery during the Great Recession.