A Changing America &The Presidency of Barack Obama

Mr. ErmerU.S. History; Miami Beach Senior High

The Economic Boom 1980-2000: Transformation of American Economy

From “Stagflation” to Growth 1970s: Business invest in new technologies, promote

efficiency Businesses reduce labor costs with anti-union policies and

outsourcing The Digital Revolution

New opportunities with cell phones, computers, Internet, digital music, digital video, digital personal assistants (“Palm Pilots”)

Explosive Growth: GDP quadruples in twenty years NYSE Index grows from 1,000 in 1980 to 11,000 in 1999 1994-2000: Economy grows extremely fast every year

Downturns Dot-Com Bust of 2001makes end of booming growth

Globalization & the Two-Tiered Economy Wealth of new boom not as evenly distributed as

those of 1940s-60s. Only benefited highly educated, particularly

science/engineering Income of highest 20% grew by 20% Income of next 20% grew by 8% Income of remaining 60% stayed the same

1980: 12% of population lived in poverty, grew to 15% by 2010 Growth of international trade increases throughout

1970s, 80s, 90s, 2000s; “Globalization” creates trade imbalances for US Only twice since 1970 has US has favorable trade

balance

Science & Technology 1971: Intel introduces the microprocessor

Allows for creation of personal computers (PC) Microsoft and IBM vs. Apple

Advanced Research Projects Agency develops the Internet 1989: Emergence of the World Wide Web

Human Genome Project

Demographic Shift The Graying of America

Declining birth rates, increased life expectancy Increased immigration Recognition of the “underclass”

Chronically poor of the inner cities Victims of modern plagues of drugs and AIDS

Battles over Feminism and abortion “Right To Life” Movement

Catholics, Evangelicals, and Mormons form base Creates a counter-movement, “Pro-Choice” Movement

Environmentalism & Anti-Globalization 1980s: Specter of “Global Warming” strikes cord

Many begin to push for preventative government action Many conservatives deny existence of Global

Warming/Climate Change Kyoto Protocol

Opposition to Globalization or “New World Order” Anti-interventionist protests Labor Unions protest free trade treaties like NAFTA Environmentalist tie globalization to climate change World Bank, WTO, and G8 protests

Election of 2008 Both parties enter election with large field of

candidates Republican nominates John McCain by spring (lost to

Bush in 2000) Democratic field narrows to race between Hilary

Clinton and Barack Obama—by June, Obama seems to hold nomination McCain chooses Sarah Palin as running mate, Obama chooses

Joe Biden McCain supports war in Iraq, Obama opposes it 2008 Financial Crisis and bank failures Obama convinces voters that McCain would

continue Bush’s unpopular policies Obama is eloquent speaker, Palin damages McCain’s

campaign Obama wins 53% of popular vote and larger share

of electoral

The Obama Presidency Proposes larger stimulus package to prevent economy from

worsening Many conservatives considered package as wasteful spending

Congress passes Affordable Care Act, nicknamed “Obamacare” Many conservatives believed ACA to be “government takeover” Supreme Court upholds the law

Conservative disapproval consolidates in the “Tea Party” Deficit reduction, tax reduction, and small government = goals

Obama’s popularity falls to just above 40% Conservatives accuse him of being Muslim terrorist, socialist, foreign Democrats believe Obama moved too far to the right after election

Tea Party candidates bring Republican control of House in 2010

Chapter 22 Assessment On page 518, write and answer questions 1-10