Good Ol Days

Timeline created by kourtnee
  • Bush inherited the economic prosperity of the Reagan years

  • The economy fell into a recession

  • The Hubble Telescope is placed into orbit by the United States Space Shuttle Discovery. One month later, the telescope becomes operational.

  • Two statutes provide the Resolution Trust Corporation (RTC) with $36.7 billion in additional funding.

  • Requires bank regulators to conduct annual safety-and-soundness examinations of all insured institutions—the healthiest institutions with less than $100 million in assets can extend this exam interval to every 18 months.

  • Dissolution of the Soviet Union

  • The recession ended

  • Doom President George H.W. Bush in the 1992 election, as Bill Clinton capitalized on economic frustration and voter fatigue after 12 years of Republican stewardship of the White House.

  • Bill Clinton is elected president.

  • 1992 - Hurricane Andrew kills 23 and causes $26.5 billion in damage as it strikes Florida and later Louisiana

  • U.S. presidential election, 1992

  • Hurricane Andrew kills 23 and causes $26.5 billion in damage as it strikes Florida and later Louisiana

  • Unemployment remained above 7% until July 1993

  • President Clinton announces that the United States will stabilize greenhouse gas emissions at 1990 levels by the year 2000.

  • World Trade Center bombing kills 6 and injures at least 1040

  • Gulf War

  • Unemployment remained above 6%

  • GDP growth surged and the number of jobs created

  • The Federal Reserve raised interest rates from 3% to 6%

  • Taxes were raised on high-income Americans and corporations.

  • Dot-Com bubble would jumpstart the economy

  • Saw a return to steady growth

  • Unemployment fell below 5% for the first time since December 1973.

  • Impeachment of Clinton

  • Republican George W. Bush was elected president in one of the closest elections in U.S. history.