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Economic Events in the 90's
Events that have influenced the economy of the United states. -
Federal minimum wage is raised from $3.35 to $3.80
Workers are paid more and can spend more money. The employers will also have to adjust to paying their employees more. -
Hubble is launched into orbit
Federal U.S. money went into the research and developement of the Hubble telescope. Many U.S. citizens supported it for scientific developement. -
U.S. initiiates millitary action against Iraq
Large sums of money must be given by the goverment to carry out missions and to develop weapons. -
GM announces plan to cut 74,000 jobs by 1995
American businesses must have been struggling. In responce to the cuts, thousands of employees would lose their incomes and be forced to find new jobs or federal aid. -
General Motors shut down a plant
2,600 employees lost their job. The unemployment rate must have gone up. -
NAFTA is passed. (Agreement trade between Canada, Mexico, and U.S.)
The goverment would have a better plan to trade with other companies. It was able to negotiate exchange policies that would gain the most money. -
The Rwandan Genocide ended on July 16 after lasting 100 days and resulting in the death of approximately 800,000
Money and recourse might have been used, and relations with other countries may have suffered. In turn, the American Economy may have also suffered. -
The World Trade organization was developed.
This would increase the money flow between countries. -
AT&T plans to eliminate 40,000 jobs
The unemployment rate must have skyrocketed. That in turn would have lowered consumer spending. -
Khobar bombing
The nation lost six buildings and many millitary personal because of this terrorist attack. The goverment would have to pay for this. -
Federal funding barred for human cloning
If major money was going into this, the goverment might have been able to keep more money. On the other hand, private reseach institutions may have lost money if they chose to continue researching this topic. -
Oklahoma series of tornados
The goverment would have had to help restore buildings and pay for medical/death expenses. Businesses may have also lost a lot of their inventory. -
Two U.S. embassies are attacked in Africa
The goverment may have had to pay for all the funerals for the deaths of hundreds and medical expenses of thousands. Also, money may have gone into preventing terrorism.
