Good Ol Days Timeline By kallie 1990 Bush inherited the economic prosperity if the Reagan years. 1990 The economy fell into a recession. Apr 1, 1990 Federal minimum wage is raised Apr 25, 1990 Humble was launched into orbit 1991 The recession ended 1991 Dissolution of the Soviet Union Jan 16, 1991 US initiates military action 1992 U.S Presidential election May 24, 1992 Hurricane Andrew 1993 The Great Flood of 1993 1993 Gulf War 1993 Unemployment remained above 7% until July 1993 1993 President Clinton announces that the United States will stabilize greenhouse gas emissions at 1990 levels by the year 2000. Jan 20, 1993 Bill Clinton was elected President Feb 26, 1993 World Trade Center bombing 1994 Unemployment remained above 6% 1994 Taxes were raised on high-income Americans and corporations. 1994 GDP growth surged and the number of jobs created 1994 The Federal Reserve raised interest rates from 3% to 6% Apr 6, 1994 Rwanda Massacre 1995 Dot-Com bubble would jumpstart the economy Apr 19, 1995 Oklahoma City bombing 1996 Saw a return to steady growth 1997 Unemployment fell below 5% for the first time since December 1973. 1998 Impeachment of Clinton