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Federal Minimum wage is raised from $3.35 to $3.80
Workers are paid more which means spending more money. Employers will have to adjust paying their employees more -
U.S. initiate military action against Iraq (The Gulf War)
Money had to be taken out from the government to make weapons and equipment for our soldiers -
The Clinton Presidency
10 millions Americans were unemployed, the country had been facing record deficits, and poverty and welfare rolls were growing. During his presidency he turned all of that around. -
NAFTA Passes
the North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that has been in effect since January 1st, 1994. It was designed to increase trade among the three nations by reducing or eliminating restrictions or commerce, such as tariffs and import quotas. -
Planned exchange rate correction of the Mexican Peso to the US dollar
This event was a massive financial meltdown in Mexico. This prompts a US$ 50 million "bailout" by the Clinton Administration -
"The World Trade" organization was developed.
Increasing the money flow between countries. -
Nasdaq above 1,000
The Nasdaq Composite index closes above the 1,000 mark for the first time -
AT&T eliminates 40,000 jobs
Unemployment rates must've went up after this -
Steve Jobs' company NeXT is bought by Apple Computer
Steve Jobs' company NeXT is bought by apple computer. Apple company will then grow massively in the coming years. -
United States embassies attacked in Africa
The government had to pay for funerals, medical expenses, and for the damage around the area. -
President Clinton Acquitted
President Clinton is acquitted in his impeachment proceedings in the US senate.