A Changing America & The Presidency of Barack Obama

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