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Bush inherited the economic prosperity of the Reagan years
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The economy fell into a recession
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The Hubble Telescope is placed into orbit by the United States Space Shuttle Discovery. One month later, the telescope becomes operational.
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Two statutes provide the Resolution Trust Corporation (RTC) with $36.7 billion in additional funding.
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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.
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Dissolution of the Soviet Union
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The recession ended
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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.
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Bill Clinton is elected president.
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1992 - Hurricane Andrew kills 23 and causes $26.5 billion in damage as it strikes Florida and later Louisiana
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U.S. presidential election, 1992
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Hurricane Andrew kills 23 and causes $26.5 billion in damage as it strikes Florida and later Louisiana
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Unemployment remained above 7% until July 1993
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President Clinton announces that the United States will stabilize greenhouse gas emissions at 1990 levels by the year 2000.
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World Trade Center bombing kills 6 and injures at least 1040
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Gulf War
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Unemployment remained above 6%
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GDP growth surged and the number of jobs created
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The Federal Reserve raised interest rates from 3% to 6%
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Taxes were raised on high-income Americans and corporations.
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Dot-Com bubble would jumpstart the economy
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Saw a return to steady growth
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Unemployment fell below 5% for the first time since December 1973.
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Impeachment of Clinton
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Republican George W. Bush was elected president in one of the closest elections in U.S. history.