1. A Changing America & The Presidency of Barack Obama Mr. Ermer U.S. History; Miami Beach Senior High

2. 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

4. 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

6. 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

7. 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

9. 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

12. 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

16. 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

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