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On the bright side, the upstart computer industry flourished during the 1980s. The U.S. balance of trade grew increasingly unfavorable; the trade deficit grew from $20 billion to well over $100 billion. Thus, American industries such as automobiles and steel, faced renewed competition abroad and within the domestic market as well. The auto ...
The 1980s (pronounced "nineteen-eighties", shortened to "the '80s" or "the Eighties") was the decade that began on January 1, 1980, and ended on December 31, 1989.. The decade saw a dominance of conservatism and free market economics, and a socioeconomic change due to advances in technology and a worldwide move away from planned economies and towards laissez-faire capitalism compared to the 1970s.
Record production led to a fall in the price of commodities. Exports fell at the same time, due in part to the 1980 United States grain embargo against the Soviet Union. The Farm Credit System experienced large losses, which were the first losses since the Great Depression. [1] [2] The price of farmland was a significant factor. Credit ...
April 24–25 – Operation Eagle Claw, a commando mission in Iran to rescue American embassy hostages, is aborted after mechanical problems ground the rescue helicopters. Eight United States troops are killed in a mid-air collision during the failed operation.
President Obama chides Mitt Romney for calling Russia, and not Al Qaeda, the No. 1 threat to the United States.
1980 – The Refugee Act is signed into law, reforming United States immigration law and admitted refugees on systematic basis for humanitarian reasons; 1980 – The Mount St. Helens eruption in Washington on 18 May kills 57. 1980 – U.S. presidential election, 1980: Ronald Reagan is elected president, with George H. W. Bush elected vice president
America responded to the 1980s crack epidemic with police and prisons instead of public health. Now look where we are. Editorial: The 1980s crack epidemic was a fork in the road.
The early 1980s saw a recession along with high interest rates, which stressed both thrift and other banking institutions considerably. [7] Negative net interest margins, due to the low interest earned on assets with high deposit interest expenses needed to retain deposits, caused a wave of thrift failures between 1981 and 1983. [1]