The 90's

Min. Wage from $3.35 to $3.80

Jan 1, 1990

This affected the economy because everyone now gets paid more.

The 1990's

Period: Jan 1, 1990 to Dec 31, 1999

1990 Economic Indicators

Dec 31, 1990

Inflation Rate = 5.4%
Nominal Household Income = $28,149
Inflation Adjusted Household Income = $50,994
GDP = 8.91T
Unemployment Rate = 5.40%
30 Year Mortgage Rate = 10.13%

U.S. Begins Military Action Towards Iraq

Jan 17, 1991

This affected the economy because the defense budget and military budget went up after taxes went up to pay for these.

1991 Economic Indicators

Dec 31, 1991

Inflation Rate = 4.2%
Nominal Household Income = $28,479
Inflation Adjusted Household Income = $49,529
GDP = 9.02T
Unemployment Rate = 6.40%
30 Year Mortgage Rate = 9.25%

Los Angeles Riots

Apr 29, 1992

This affected the economy because of all the damage done in LA. Millions of dollars in damage was done and many businesses were temporarily shut down.

1992 Economic Indicators

Dec 31, 1992

Inflation Rate = 3.0%
Nominal Household Income = $29,080
Inflation Adjusted Household Income = $49,122
GDP = 9.41T
Unemployment Rate = 7.30%
30 Year Mortgage Rate = 8.40%

Clinton Cuts Defense Budget by $188 Billion

May 13, 1993

This affected the economy because we did not have to put as much taxes into the defense budget now.

1993 Econmic Indicators

Dec 31, 1993

Inflation Rate = 3.0%
Nominal Household Income = $29,819
Inflation Adjusted Household Income = $48,884
GDP = 9.65T
Unemployment Rate = 7.30%
30 Year Mortgage Rate = 7.33%

Federal Funds Rate Rasied to 5.5%

Feb 1, 1994

This affected the economy because this ultimately increased the taxes we pay in order for the government to get this money.

1994 Econmic Indicators

Dec 31, 1994

Inflation Rate = 2.6%
Nominal Household Income = $30,934
Inflation Adjusted Household Income = $49,429
GDP = 10.05T
Unemployment Rate = 6.60%
30 Year Mortgage Rate = 8.36%

U.S. Trade Deficit Soared by 68% to $2.2 Billion

Aug 19, 1995

This affected the economy because our government lost a lot of money due to this.

1995 Economic Indicators

Dec 31, 1995

Inflation Rate = 2.8%
Nominal Household Income = $32,830
Inflation Adjusted Household Income = $50,978
GDP = 10.28T
Unemployment Rate = 5.60%
30 Year Mortgage Rate = 7.96%

Fed. Govt Shut Down

Jan 6, 1996

This affected the economy because the entire government was shut down for weeks. All things that had to do with the government or the economy stopped.

1996 Economic Indicators

Dec 31, 1996

Inflation Rate = 3.0%
Nominal Household Income = $34,290
Inflation Adjusted Household Income = $51,720
GDP = 10.74T
Unemployment Rate = 5.60%
30 Year Mortgage Rate = 7.81%

Lowest Unemployment Rate in 24 Years

Oct 10, 1997

This affected the economy because the unemplyoment rate was so high, so the money in the economy would have been scarce because nobody was spending money.

1997 Economic Indicators

Dec 31, 1997

Inflation Rate = 2.3%
Nominal Household Income = $35,788
Inflation Adjusted Household Income = $52,748
GDP = 11.21T
Unemployment Rate = 5.30%
30 Year Mortgage Rate = 7.60%

El Nino Weather Catastrophy

Mar 4, 1998

The $422 million of damage done affected the economy because citizens has to contribute their money to this.

1998 Economic Indicators

Dec 31, 1998

Inflation Rate = 1.6%
Nominal Household Income = $37,635
Inflation Adjusted Household Income = $54,702
GDP = 11.77T
Unemployment Rate = 4.60%
30 Year Mortgage Rate = 6.94%

Trade Defecit Hits $175 Billion, All Time High

Nov 30, 1999

This affected the economy because this caused taxes to go up and it caused inflation to go way up because there was less money in the money stream.

1999 Economic Incentives

Dec 31, 1999

Inflation Rate = 2.2%
Nominal Household Income = $39,480
Inflation Adjusted Household Income = $56,080
GDP = 12.32T
Unemployment Rate = 4.30%
30 Year Mortgage Rate = 7.43%