THE ECONOMY OF THE UNITED STATES OF AMERICA1990-1999Barba, BroiBarneso, Khristine JayzellaDacaldacal, Angelica MaeMalaluan, Roy JohnABIS-AMST 3

The Early 90s Recession The EARLY 90s RECESSION lasted for eight months.It started in July 1990 and ended in March 1991.It was caused by the SAVINGS and LOAN CRISIS in 1989

1992- Year of the Sloth

In 1992, United States economic expansion moved at a sloth's pace. The recession had ended but employment, sales and income improved only slightly. There was one benefit: economic stagnation lessened inflation's grip

1993- Omnibus Budget Reconciliation Act

The Omnibus Budget Reconciliation Act of 1993, better known as the Deficit Reduction Act of 1993, was President Bill Clintons first budget. The fiscal year 1994 budget proposed the highest peace-time tax increases (on high income earners) in United States history, cut appropriations spending, and renewed the framework of the Budget Enforcement Act of 1990.

1994- NAFTA

1994- Mexican Peso Crisis

1996- Welfare Act

1994-1996- Weapons

1997 US EconomyMay 1997- The US unemployment rate falls below 5%, first time since December 1973.August 6- Microsoft buys a $150 million share of Apple ComputerOctober 27- Stock markets around the world crashed because of global economic crisis scare.November 10- Telecom Companies WorldCom and MCI Communications announce a US$37 million merger to form MCI WorldCom (the largest merger in US History)

1998 US EconomyLate 1997- Early1998- El Nino struck US and cost the country $4.2 to $4.5 billion.January 28- Ford Motor Company announces the buyout of Volvo Cars for $6.45 billion.April 7- Citicorp and Travelers Group announce plans to merge, creating the largest financial-services conglomerate in the world, Citigroup.November 30- Deutsche Bank bought Bankers Trust creating the largest financial institution in the world.December 1- Exxon bought Mobil for US$73.7 billion creating ExxonMobil (multinational oil corporation), the second largest company on the planet by revenue.

1999 US Economy

January 1- The Euro currency is introduced as a competitive tool to stem the power of the dollar and maximize the economic power of the European Union nations.March 29 - The Dow Jones Industrial Average closes above 10,000 for the first time.Microsoft is worth 450 billion dollars, the most valued company in the world and Bill Gates is the worlds richest man at $85 billion (1/109th of the US economy)

Internet fever: 100 new Internet companies in the USA stock market, and their stocks reap huge profits for investorsUSA has 250 billionaires, and thousands of new millionaires are created in just one yearClinton announces a second year of budget surplus, the first time since 1957 that the USA has had two consecutive years of budget surplus.

MAIN THEMEThe Recession and Recovery of Americain the early 90s, USA suffered from recession due to the economic problems which started in the late 80s. Starting in year 1995, the economy of the US recovered and continued to grow until 1999 where the GDP of the country constantly increased.