2. The Conservative Ascendancy

3. Ronald Reagan AntitaxAntigovernmentAnticommunism

4. Reaganomics Economic Recovery Tax Act of 1981 Omnibus Reconciliation Act of 1981 Cut back in rules governing business activity Little government restriction on business Recession of 1982 - Inherited from Carter - Deepened Recovery begins in 1983 Deficit spending and large national debt

5. Foreign Policy Policy resembled a 1950s and early 1960s policy Policy resembled a 1950s and early 1960s policy Military Buildup Military Buildup Strategic Defense Initiative Strategic Defense Initiative Deterioration of U.S.-Soviet relations Deterioration of U.S.-Soviet relations -Soviets shot down Korean airliner in 1983 -Soviet Union and Eastern Europe boycott of 1984 Olympic Games in Los Angeles Gorbachev takes leadership of U.S.S.R. in 1985 Glasnost and perestroika 50 percent cut in strategic weapons proposed by Gorbachev “Zero option” for intermediate nuclear forces (INF) Reagan Doctrine in Central America

6. Iran-Contra Scandal Terrorism in Middle East Terrorism in Middle East Pro-Iraqi in Iran-Iraq War Pro-Iraqi in Iran-Iraq War Negotiations with Iranian government Negotiations with Iranian government -Supply of weaponry in exchange for release of hostages by radical Islamic groups in Lebanon Congressional hearings on investigation of scandal Congressional hearings on investigation of scandal Reagan pleaded ignorant Reagan pleaded ignorant

7. Technological Advancements and Consumerism Silicon Valley Computers Growing influence of television Money, Status, and Power Rap, heavy metal music, MTV

8. A time of prosperity? DrugsAIDSHomelessness Federal deficit and the Gramm-Rudman Act Wall Street decline of 1987 Inequality in wealth Race riots in Los Angeles- caused by police brutality

9. George Bush Elected in 1988 against Michael Dukakis Persian Gulf War Recession Race Riots Immigration

10. Gorbachev and the Collapse of Communism Free elections in satellite countries Free elections in satellite countries Tearing down of the Berlin Wall Tearing down of the Berlin Wall Gorbachev leaves the Communist party Gorbachev leaves the Communist party Gorbachev resigns Gorbachev resigns Commonwealth of Independent States recognized Commonwealth of Independent States recognized Soviet Union dissolved Soviet Union dissolved

11. Persian Gulf War Saddam Hussein Oil in Kuwait Operation Desert Storm Bush’s approval rating- 90%

12. Bill Clinton Elected in 1992 Elected in 1992 Baby boom president Baby boom president Health care reform Health care reform Progress towards equality: women and minorities Progress towards equality: women and minorities Hillary Clinton Hillary Clinton Booming economy Booming economy NAFTA- North American Free Trade Agreement NAFTA- North American Free Trade Agreement