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Period: to
U.S. Economy and Politics 1990-2006
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Gulf War Begins
The Middle Eastern war against the Dictator Saddam Hussein of Iraq and his invasion of Kuwait. -
End of Cold War
Cold war ended and the U.S. begins to rebuild and stabilize economy -
1991 Federal Minimum Wage Increase
In 1991 the federal minimum wage was increased from $3.80 per hour to $4.25 per hour. -
First Live Accessible Web page
For the first time a website goes live for the public to use. This is the begging of a huge market that is worth billions today. -
Asian Financial Crisis of 1997
The economic crisis started when the Thailand government decided to stop pegging their currency to the U.S. Dollar. Nearby countries in East Asia felt the most effect as nearby countries currency dropped as much as 38%. The effects of the Asian Financial Crisis was also felt world wide. -
Clinton Impeachment
Senate did not get 2/3 vote needed to impeach Clinton but he was eventually impeached in February 1999. His delayed impeachment caused a lack of confidence from many citizens. -
2001 Tax cut
Economic Growth and Tax Relief Reconciliation Act of 2001, smallest tax cut in U.S. history -
September 11th terrorist attacks
This event lead to fear in many Americans and a period of rebuilding. -
2002 Stock Market Crash
Ever since the 9/11 terrorist attacks, the stock market has been going down until October 2002 when it reached its lowest point. -
War in Iraq and Afghanistan
Following 9/11 war on terror began. Billions of dollars have been spent on this war -
Hurricane Katrina
Hurricane Katrina devastated the Gulf Coast of the US. It caused $100 Billion in damage.