Flashcards on Chapter 11 s
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National Debt Under Reagan
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Reagan's massive military spending combined with less revenue form taxes contributed to a record national debt
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Mikhail Gorbechev
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Progressive Soviet leader who negotiated with Reagan and instituted new policies that eventually contributed to the collapse of communism in East Europe and the end of the USSR
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Iran-Contra Scandal
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Scandal during Reagan presidency in which the US arranged to secretly sell arms to Iran and use the profits to find and support the Contras in Nicaragua
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George HW Bush
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Reagan's VP and president of the US who was commander-in-chief during the Persian Gulf War. Lost 1992 election to Bill Clinton
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Persian Gulf War/ Desert Storm
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War fought to liberate Kuwait from Suddam Hussein's Iraq forces
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Foreign oil
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Oil that the US imports from other countries
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Bill Clinton
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First democratic president to win reelection since FDR, he ran as "New Democrat" , signed welfare reform, and was only the 2nd president ever impeached
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Budget Deficit
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Occurs when a government spends more than it takes in as revenue. When Clinton too office, the US had a budget deficit.
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Budget Surplus
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Occurs when a government spends less than it takes in as revenue. When Clinton too office, there was a budget deficit.
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NAFTA
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Removed trade restrictions between the US, Canada, & Mexico, & caused considerable controversy in the US bc many labor unions feared that the agreement would encourage US business to relocate to Mexico where they'd face fewer restrictions and can pay lower wages. Others argued it would create jobs in the US by increasing foreign markers for US businesses.
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Healthcare
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Area of concern for Bill Clinton. Disturbed that nearly 40 million US citizens sill had no medical insurance in 1993. He appointed his wife, Hillary, to head a task force to analyze healthcare and propose reforms. Clinton ended up presenting a plan calling for a gov supervised Heath insurance program that guaranteed affordable Heath coverage to every US citizen. The okay was rejected after nearly a year of debate.
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Budget Battle
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Showdown between Clinton and Gingrich's Republican-led Congress that occurred in 1995 over proposed budget cuts. When the two sides couldn't compromise, the federal government was forced to temporarily shut down and cease services to millions of people.
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Welfare reforms
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Reforms signed by Clinton in 1996 which scales spending, reversed welfare legislation dating back to the New Deal, & boosted Clinton's popularity just before the election.
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Monica Lewinsky
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White House intern with whom Clinton had a sexual relationship and then lied to the grand jury.
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Election of 2000
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Closest election in US history in which George HW Bush eventually defeated Al Gore despite winning fewer after the Supreme Court stopped recounts in FL
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George W Bush
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Son of president HW Bush and the 43rd president of the US. He was elected in 2000 after the closest election in US history and launched a war on terror following the terrorist attacks on 9/11
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Terrorists
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Criminals who destroy property and kill innocent civilians in the name of a political or social cause.
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Al-Qaeda
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Most formidable and best known Islamic groin which carried out the terrorist attacks of 9/11
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Osama Bin Laden
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Leader of Al-Qaeda and mastermind behind 9/11
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War on Terror
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Aggressive war against terrorists launched by W Bush in 2001 in response to 9/11
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Afghanistan
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Invaded in 2001 for harboring Al-Qaeda
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War in Iraq
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War in which the US led an international coalition in an invasion of Iraq for the purpose of deposing Saddam Hussein. Its justification was based largely on intell reports that Saddam had "weapons of mass destruction" and ties to terrorism. Although Saddam was removed from power, no weapons of mass destruction were found and many criticize Bush's decision to wage the war.
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Camp David Accords
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A lasting peace agreement between Egypt and Israel which president Carter helped negotiate.
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Bilingualism
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The use of 2+ languages and providing students with access to public edu taught in their own language
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Economic Disparity
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Differences in income and assets that exist when comparing individuals and for populations within a society.
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Urban flight
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Trend in which middle class citizens leave the cities to live in suburbs
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Election of 2008
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Obama won the presidential election and became first black president in history
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Foreclosure
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Occurs when a lender takes a persons home bc the individuals inability to pay their own mortgage
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Real estate crisis
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Occurred before and during Obamas presidency. If was defined by record foreclosure sand many people associated with the real estate industry losing their jobs/businesses
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Stimulus Package
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Obamas pls meant to deal with the economic crisis. It pumped large sims of federal money into the economy with the goal of creating jobs. Also provided billions of dollars to save several key businesses from going bankrupt. It also helped prevent the US auto industry form going under. Lack of results led to many to pronounce it as a failure.
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Taxes
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Money paid to the gov. They are an atea of intense political debate between those who feel the rich should pay more, and those who feel taxes should be cut to encourage buisness expansion and job growth
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Globalization
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The worldwide connection between nations economically, in terms of communications, etc
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European Union
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An economic entity consisting of 27 European nations. The EU unites these nations economically and uses the euro as a common currency
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