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.