The 1990's: The Last Great Decade

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The 1990's, also known as “The Last Great Decade” was a time where new inventions and great leaders would create a grand and wealthy economy for the citizens of the United States. George H.W. Bush became president in 1989 until 1992. William J. Clinton became president in 1993 and remained president until 2001. Although “The Last Great Decade” had exceptional highs, it also had lows. The end of the cold war began in 1985 and extended until December 1991. This began with Gorbachev becoming leader of the Soviet Union. The USSR forbid liberal reform and Gorbachev was the first to advocate liberalization. The USSR faced economic difficulties, but in 1991 the Soviet Union collapsed and the Cold War came to an end. In August 1990, the Gulf War began …show more content…

Firms started to realize the importance of workers, which resulted in tight labor markets due to using all resources. Income started to thrive in view of the increase of employment and wage growth in the 1990's. Consumer debt determined consumption growth. Demand became strong and imports started to ascend. As a result of that, exporting couldn't compete. Productivity improved as new technology applied to the economy. In 1996, Clinton signed the Welfare Reform Bill on August 2nd. Poverty rates started to decrease and 22 million jobs were created for citizens. Technology advances kept increasing through the years. This not only allowed for business expansion but also led to warfare expansion. In 1994 Combat drones enabled troops to exploit weapons while remaining miles from battles. The Global Positioning System, known as GPS, was introduced in 1995. This helped the US make bombing more precise in wars. In 1997 Anti-Satellite weapons were created to destroy satellites used for military purposes. The Last Great decade became controlled by computer science inventions and contributed to the information era. It became a time of economic growth, increased productivity and advanced

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