tengowski - vii 7 the great recession

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2001-2009

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2001-2009

Born in New Haven, CTMoved to Texas in 1948Philips Academy in Andover,

Mass Baseball and Cheerleading?

Attended Yale (History) (1964)Denied to Texas LawTexas Air National GuardArrested for DUI in 1970Harvard Business SchoolMBA-Harvard University

Bush During his Time in the Texas Air Natl. Guard

• Joins Arbusto Energy w/ $10,000 investment

• Sells that for $650,000• Invests in Texas Rangers• Sells for $15 million• Political Career– Ran for Texas House in 1978

(lost)– Governor of Texas (1995-2000)

• Executed a record 152 prisoners in 1998

VP-Dick CheneyState-Colin Powell (1st Term)Condoleeza Rice (2nd Term)Defense-Donald RumsfeldLabor-Elaine ChaoTransportation-Norman

MinetaHomeland Security-Tom

Ridge

• “Peace is Earned Through Strength”– Increased Military

Budget • Global War on Terror• Bush Doctrine– Authored by Cheney &

Paul Wolfowitz– Actions that will protect

the security and democracy of Americans are justified

New President-Hu JintaoApril 1-US Spy Plane collides

w/Chinese fighterEmergency Landing on

Hainan IslandHeld for 12 Days,

US paid $34, 567.89Plane returned 2 months

later In over 100 boxes!

• 8:45am-American Airlines 11 from Boston hits WTC (North)

• 9:08am-United 175 from Boston hits WTC (South)

• 9:43am-American 77 from Dulles hits Pentagon

• 10:10am-United 93 from Newark crash lands into Somerset, PA

2,999 people died, 24 are still missing246 on the 4 Planes, 2603 in NYC, 125 at Pentagon

All Civilian International air traffic was banned from landing for 3 days

“Terrorism can shake the foundations of our tallest buildings but it can’t shake the resolve of the American people.

Approval Rating hit 86%, highest ever

• October 7- US invasion of Afghanistan– Destruction of Terrorist

training camps– Capture of Al-Qaeda

Leaders (bin Laden)

• Nov. 21-Battle of Tora Bora-remove Taliban from Kabul

• President Hamid Karzai• Operation Mountain

Thrust (2006)-renew attacks against the Taliban

IranIraqNorth KoreaCubaLibyaSyria

President Vladimir PutinConsolidation of

Democratic Power? Next Tsar of Russia

SORT Treaty signed May 24, 2002Limits Nuclear arsenals

to 1700 by 2012No longer recognizes

ABM Treaty

UN Resolution 1441-No tolerance or defiance of international law (WMD)

Reasons for War-WMD and ties to 9/11CIA was continuing to investigate “allegations of

yellow-cake uranium sales in Niger”Thomas Wilson and Valerie Plame (CIA)No real connection was ever found…Hans Blix was never aware of any indications of a

nuclear program that could attack the US

• Invasion began on March 20, 2003

• Led by General Tommy Franks

• Baghdad falls on April 9• Successes– Operations over May 1, 2003– Uday & Qusay killed,

Saddam Executed (Dec. 30, 2006)

– Iraq becomes a democracy in 2004

– Current leader-Prime Minister Nouri Al-Maliki

Rumsfeld DoctrineLighter, Faster Military

w/supporting air strikesLack of Ground Forces to

Secure Borders & CitiesDebaathification

Removal of Saddam’s personal army & anyone involved within his former government

Abu Ghraib Prison Scandal

• Troops-680,000 invasion• 540,000 US• 148 US Dead (36 Friendly

Fire)• 30 Supporting Nations– 52,000 Saudi Arabia– 43,000 United Kingdom– 33,600 Egypt

• Cost $61 Billion ($7 Billion to US)

• 6 Weeks of Combat

• Troops-300,000 invasion• 165,000 Pre-Surge• 4400US Soldiers Dead• 17 Supporting Nations– South Korea 933– Romania 397– El Salvador 280

• Cost $400 Billion to US• 3 Months of Active

Combat

Kim Jong –Il Walked away from 1994

Agreement $4 Billion, Oil, Light-water

reactors Oct. 6, 2006-Detonated Nuclear

Device (Underground) May 7, 2007-Agreed to shut down

reactors for release of frozen bank funds

US, China, North Korean Deal September 2, 2007-Agreed to

dismantle nuclear program by the end of 2007.

Bush’s Desire for a Palestinian State by 2005

Denounced Arafat (Died in 2003)

Israel PM-Ehud OlmertPalestinian President-

Mahmoud AbbasIsrael must halt West Bank

activityPalestinian must halt and

dismantle all terrorist activities

Colonel Muhammar Quadhafi

Agreed in 2003 to disarm all of their WMD

Allowed weapons inspectors in (UN)

In 2006, agreed to full diplomatic ties with the US (off Axis of Evil…)

President Mahmoud Ahmadinejad

US calls for a stop to production of all nuclear weapons

In 2003, Iran stopped making a bombContinued enrichment

of uraniumContinued long range

missile system

Tax Cuts-3 major cuts so far…In 2001, he cut taxes by $1.35 trillionIn 2003, he cut taxes by $350 billionTax cuts were set to expire in December 31, 2010

SpendingFederal Spending up 28%2006-Budget was $2.4 trillion, defense was $480 Billion2007 Deficit-Approximately $400 Billion

National Debt as of today-$19.2TrillionWhat does it all mean?

US Patriot ActAct greatly increased the authority

of US intelligence agenciesSearch Emails, telephone calls,

medical, financial recordsLoss of civil liberties???

Dept. of Homeland SecuritySecretary Tom Ridge (R, PA)Cabinet level position that secures

America from terrorist attacks and natural disasters

Director of National Intelligence John Michael McConnellCurrently collects information from

16 agencies and reports directly to the President

Jan 2002-No Child Left Behind Act PassedAll students will take tests to

prove that they are proficient in math, science, and reading

Has it been adequately funded? Funding has gone up 14%

Parents in school districts that are failing can send their kids to other schools

By the year 2014, all children are supposed to be advanced or proficient

Sex Education & Intelligent Design???

November 2003Bans abortions during

the 2nd Trimester of a Pregnancy

PollsAvailable-39%Available w/stricter

limits-38%Not available-23%Poll-CBS(2006)

November 2003$534 billion over the

next 10 yearsBenefits were given to

companies to not eliminate prescription drug coverage

Government will not negotiate discounts with drug companies

Appointed July 19, 2005Replaced Sandra Day

O’Connor3rd Youngest ever to be

Chief JusticeHas turned the court

into a 5-4 balance towards the conservatives

Demanded a “Guest-Worker” Program would allow 12 million

illegal immigrants to obtain legal status

Deployed 6000 National Guardsmen to border

700 Mile Fence created along US/Mexico Border

Withdrew from Kyoto ProtocolsWorldwide Pollution standards that would lower the

amount of greenhouse gases in the atmosphereTo date, 170 countries signed, US & Afghanistan have

notBush did not sign because of China and India’s level of

commitmentSocial Security Reforms

Privatization means that individuals would be free to invest their FICA taxes into secured investments

Up to $1000/year could be invested

Destroyed February 1, 2003

Broke up over Texas at a altitude of 39 miles

All 7 Crew Members were killed

Hurricane Katrina

August 23-28, 2005

1836 Killed

$81.2 Billion in Damages

Criticisms-Michael Brown as director of

FEMA, also President of Arabian Horse

Association

Iraq War had stretched

response to thin…

Bush denied that he received warnings about the levee system

Virginia Tech Shooting

April 16,2007

Seung Hi-Cho killed 32 people and wounded 25 more

1. Two Major Tax Cuts! $1.3 Trillion + $350 Billion

2. US Government Yearly Budgets2008: Budget Deficit - $1.4 Trillion

3. National Debt - $10.6 Trillion4. Credit Crisis

Households using 130% of their income5. Rise of Oil Prices – Over $100/Barrel6. Stock Market Decline – Lost $7 Trillion in

Value

$700 Billion (Stimulus/Bailout)