America's Economy In The 1990s

Zoe Bautista
Mrs. Montgomery
American Lit 11
15 March 2016
Decades: 1990s
With the fall of Communism in the beginning of the 1990s, America’s economy saw its longest economic expansion in history. From 1991 to 2001, the improving economy, new jobs creations, and the success of the stock market were big factors that lead the nation to prosperity. Overall, people had a positive outlook on life and were hopeful about the future. Many Americans were confident in the direction the country was growing and the country was productive. In addition, the decade introduced the Internet. This marked the beginning of the Information Age and a shift to digital technology. Culturally, people were influenced by different forms of media like theater, film, radio, and TV. People began to attain information faster with the heightened media coverage. Economically, there was more stability throughout the rest of the world. In the 90s, America’s economy was steadily
improving, innovations brought people closer to the future, mainstream media influenced the culture, and the American dream was not so elusive.
The decade of the 90s saw unprecedented peace and prosperity throughout the world and numerous major events took place. The President at the time was Bill Clinton (1993-1998). During his time in office, he was able to successfully wage two wars - Kosovo and Bosnia. In addition, he stimulated the economy and lowered unemployment rates. Clinton is credited for eliminating the federal deficit in the US, “in 1990 the US deficit was -$221.2 Billion … By 2000, the US was at a surplus of $236.4 Billion” (Carnagie 2). Clinton signed the NAFTA (North American Free Trade Agreement) and was able to take the country out of debt and bring it back to prosperity. Another notable person from the 90s is Nelson Mandela. He was a South-African anti-apartheid revolutionary, who was arrested for treason and trying to help other countries invade South Africa. He was charged with 27 years and wrote his autobiography, “Long Walk to Freedom”, while in prison. In 1990, he was freed from prison and was “elected the first black president in South Africa” (nagel 5). Mandela was one of the most influential people of all time and was instrumental in leading the transition into a multiracial democracy.
The economic stagnation of the Soviet Union marked the official end of the Cold War and the fall of the Berlin Wall in 1992. It took the U.S. many years, but they were able to “increase diplomacy, military, and economic pressure on the Soviet Union”(Routledge 2). This is important because it left the U.S. as the most dominating, military, power. In the same year, Rodney King was “subdued by police officers after a high speed chase”(German 1) . Footage from a standby reveal that police brutality was in play. It's was evident that King was resisting arrest, but heightened racial tensions in Los Angeles and the verdict results caused Los Angeles Riots. This resulted in 55 people being killed and over 2,000 being injured. Internet use was “rapidly increasing and in 1998 the online search engine Google is created” (Brill 4). This made internet research quicker and easier. Google became a popular and revolutionary tool. In 1995, OJ Simpson was found not guilty of double murder despite “growing evidence during his internationally publicized People v. Simpson trial” (Clayton 3). It was a very controversial verdict in which many Americans believe Simpson was guilty and got away with it. In 1998, president Clinton is impeached by the House of Representatives. His charges were perjury, obstruction of justice, and malfeasance in office. In 1999, massacre had occurred, “two deranged teenage boys go on a killing spree at Columbine High School” (Nagel 5). This causes devastation sparks debates and headlines pertaining to gun control in America. This is important because it is still being debated today. Other important events of the 90s included advancements in technology. Bill Gates was able to change the world by taking advantage of the growing Internet and saw its potential. Stephen Hawking was responsible for helping popularize science. Other notable people of the 90s include Michael Jordan, Tiger Woods, Nirvana, Pope John Paul II, Al Gore, and Oprah Winfrey. These famous celebrities inspired millions of Americans to archive their own dreams.
The state of the American Dream was intact. With the end of Cold War, the economy improved further and the prices weren't so inflated, “gas prices were relatively affordable at the average price of $1.10 per gallon¨ (Routledge 3). No one ever bought a car based on its gas mileage because they were not worried about how much gas cost. The American Dream was more achievable because things were more affordable. The economy was more stable and many Americans prospered during this time period. Jobs were secure and there was less debt. The 90s was a happy time because many Americans enjoyed prosperity, ¨the country was happier due to the prosperity of the 90s” (German 2). More social mobility means that someone who comes from a poor background was more liable to rank up his/her social class.
In addition, the end of the Soviet Union ended the fear of communists making America a happier place. With such low costs and the fall of the Soviet Union, American people focused on themselves rather than worldly affairs, “No one worried about countries outside the US. In between the fall of the Soviet Union (1991) and 9/11 (2001),didn't really have much of a reason to think about the rest of the world” (Nagel 1). The 90s became a pleasant time to start your American Dream. The U.S experiences its longest period of economic expansion during the decade. Personal incomes doubled from the recession in 1990, and there was higher productivity overall. After the 1996 Welfare Reform Act there was a reduction of poverty, and the Wall Street stock exchange stayed over the 10,500 mark from 1999 to 2001. Overall the 90s, was a great time to move up in social rank and things like the TV were affordable for most.
The 90s had reached new heights in TV, radio, theater, and film. In TV, the most popular shows were sitcoms and they were vastly popular to the American audience. The 90s had shows like Seinfeld and Friends. Both of which gained huge audiences and ratings. Other popular shows include That's 70s Show, Fresh Prince of Bel-Air, Full House, among others. People watched a variety of sports like basketball, football, and wrestling was extremely popular during the mid 1990s. They featured battles between the WCW (World Championship Wrestling) and the WWF (World Wrestling Federation) and gained a huge following. By 1990s, The animated cartoon, The Simpsons, become a cultural icon and paves the way for other animated TV shows such as Beavis and Butthead, Southpark, and Family Guy. The TV became a source entertainment for many people, “television became a staple in almost every American household” (Clayton 2). Television was a way to pass time and people were being entertained like never before.
With the growing list of TV Shows it was not hard to find something to like.
In radio, stations played popular music and provided an outlet for people to share their opinions, “conservatives found their media niche - talk radio” (Brill 3). The evolving purpose of the radio helped the speaker address points on a nationwide scale. This helped with marketing and advertisements. The radio also was used by musical artists to spread their messages through a platform that is almost accessible to everybody. In the film industry, the 90s film companies made strides by setting the bar high for future films to come. Most notably, the movies Toy Story and Titanic. With Toy Story becoming the first movies to be entirely CGI and the Titanic becoming the highest grossing film of all time. The 90s showcased some of the most impressive collections of movies of any decade including Jurassic Park, Lion King, Forrest Gump, The Matrix, and Goodfellas. The 90s became the peak of filmmaking and continues to influence the movie industry
today.
With the prospering economy, many Americans were able to attain benefits that came from living in the 90s. The culture was diverse as ever and there was money to be made. Entertainment peaked and featured some of the greatest tv shows, films, and sports teams ever assembled. Overall, the 90s was responsible for paving the way for future technological advancements and is remembered for its creativity with people from Nirvana to Bob Ross and movements that helped better the world like environmentalism and globalization. All in all, the 1990s is one of the greatest decades of all time.

Works Cited
Routledge, Chris and Justin Gustan. “Bowling, Beatniks, and Bell Bottoms. Pop Culture of the 20th and 21st Century America. Print.
Brill, Marlene. “America in the 1990s” . Twenty-First Century Books. Print.
German, William. “ The Dictionary of American history”. History of America. Print.
Carnagie, Julie. “UXL American History”. US History in Context. Print.
Clayton, Mary. “The Great Depression to the 1990s Encyclopedia”. American Social History. 1993. Web.
Nagel, Rob. “American decades” .The Gale Group. 2003. Web.