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All terms in this list:

Globalization: growing trend towards expansion and integration of worldwide trading networks

European Union: provided political cooperation as well as promote democracy, trade, and the development of European economies, A majority of members of the EU adopted a common currency

NAFTA: 1994 North American Free Trade agreement to eliminate trade barriers

GATT: General Agreement on Tariffs and Trade

outsourcing: transfer of a business functions to another country

Sunbelt: A geographical region loosely described as the southern and western states of the USA where the weather is typically sunny.

No Child Left Behind: federal law mandated that states test students to see if they meet increasingly difficult goals to demonstrate academic proficiency

computers: led to the use of Internet, E-bay, e-mail, pagers, computer games, and cell phones by a large portion of the population and brought changes to society, privacy laws, and communication networks in the United States and around the world

Social Security: due to an aging population , this contributes to arguments over the yearly budget deficit and the national debt

defense spending: contributed to an accumulating national debt in the 1980's and in recent years

Bill Clinton: elected in 1992, introduced welfare reform aimed at reducing national debt, reformed health care, and notorious for impeachment due to Monica Lewinsky affair

Election of 2000: remained undecided for several weeks beyond Election Day as Democrats and Republicans contested the counting of ballots in Florida, the Supreme Court stopped the recount and Republican candidate George W. Bush won the election

George W. Bush: won election of 2000, 9/11, WMD, wars in Iraq and Afghanistan, term ended in the "Great Recession"

Great Recession: 2007, saw the worst economic conditions since the Great Depression of the 1930s as people lost their jobs and their homes, unemployment reached 10 percent

Barrack Obama: won election of 2008, first African American president, created second stimulus package to relieve "Great Recession", introduced health care reform(Obamacare)

stimulus package: deficit spending introduced by both Bush and Obama, intended to relieve impact of the "Great Recession"

foreign oil: oil U.S. is dependent on for our everyday use, largely from OPEC

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