Economic Events in the 1990's

Federal Minimum wage is raised from $3.35 to $3.80

Apr 1, 1990

Workers are paid more which means spending more money. Employers will have to adjust paying their employees more

U.S. initiate military action against Iraq (The Gulf War)

Jan 16, 1991

Money had to be taken out from the government to make weapons and equipment for our soldiers

The Clinton Presidency

Jan 20, 1993

10 millions Americans were unemployed, the country had been facing record deficits, and poverty and welfare rolls were growing. During his presidency he turned all of that around.

NAFTA Passes

Nov 18, 1993

the North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that has been in effect since January 1st, 1994. It was designed to increase trade among the three nations by reducing or eliminating restrictions or commerce, such as tariffs and import quotas.

Planned exchange rate correction of the Mexican Peso to the US dollar

Dec 19, 1994

This event was a massive financial meltdown in Mexico. This prompts a US$ 50 million "bailout" by the Clinton Administration

"The World Trade" organization was developed.

Jan 1, 1995

Increasing the money flow between countries.

Nasdaq above 1,000

Jul 17, 1995

The Nasdaq Composite index closes above the 1,000 mark for the first time

AT&T eliminates 40,000 jobs

Jan 3, 1996

Unemployment rates must've went up after this

Steve Jobs' company NeXT is bought by Apple Computer

Dec 20, 1996

Steve Jobs' company NeXT is bought by apple computer. Apple company will then grow massively in the coming years.

United States embassies attacked in Africa

Aug 7, 1998

The government had to pay for funerals, medical expenses, and for the damage around the area.

President Clinton Acquitted

Feb 12, 1999

President Clinton is acquitted in his impeachment proceedings in the US senate.