This word was first mentioned in the Gramm-Rudman-Hollings Act of 1985.
What is sequestration
100
Until this year, the dollar was backed by gold.
What is 1971.
100
This two-time president was a governor prior to becoming president.
Who is Bill Clinton.
100
The Gramm-Rudman-Hollings Act of 1985 allowed the debt ceiling to be raised by this much.
What is $2 billion.
100
This party is represented by an elephant and this party is represented by a donkey.
What is the Republican and the Democrats
200
This six-day war caused the Arabs to raise crude oil prices by 70%.
What is Yom Kippur War.
200
This system of monetary management established the rules for commercial and financial relations among the world's major industrial states after WWII.
What is Bretton Woods Monetary Regime.
200
This man did not garner any Electoral College votes, but still managed to foul the waters for incumbent President George H.W. Bush.
Who is Ross Perot.
200
This 1990 piece of legislation pitted Rs agains Ds, ultimately emboldening the right wing of the R Party.
What is the Omnibus Budget Reconciliation Act of 1990
300
The end of this war brought about reductions in defense spending that helped close the budgetary shortfalls of the 1980s and contributes to the surpluses of the late 1990s.
What is the Cold War.
300
President Nixon's decision to remove the dollar from the gold standard was precipitated by this.
What is rising U.S. balance of payments deficits.
300
The election of this president brought major tax cut legislation into law that was set to expire in 2010 and ultimately was extended into 2013.
Who is President George W Bush
300
The Budget Enforcement Act of 1990s created "pay-as-you-go" rules for taxes, also know as this.
What is PAYGO
300
The elections of this year saw the R Party gain a majority of the seats in the US House for the first time since 1954.
What is 1994
400
During the 1970s, this problem became a regular feature of American life, with yearly increases in the consumer price index regularly exceeding 10%.
What is inflation.
400
According the monetary agreement of 1944, other currencies were valued against this.
What is the US dollar.
400
This legislation of 2009, was a Keynesian attempt to lift the US economy out of a major depression.
What is the American Recovery and Reinvestment Act
400
President George W Bush funded major portions of the Iraq and Afghanistan Wars through this kind of appropriations rather than direct appropriations, ultimately resulting in a large deficit.
What is supplemental appropriation.
400
Many observers blame President George H.W. Bush's defeat for re-election on this.
What is reneging on his 1988 campaign pledge to refrain from raising taxes.
500
Although the Reagan administration predicted the combination of spending and tax cuts would help this, in fact, this exploded under the Reagan administration.
What is the deficit.
500
This action, which President Nixon presented as part of a plan to combat inflation, quickly ended the multi-national monetary agreement and was nicknamed this.
What is the Nixon shock.
500
This was the major issued of the 2008 presidential election.
What is how best to address the recession.
500
In this year, subprime home mortgage loans were often called this because the homeowners could not pay the mortgage.
What is toxic.
500
The conflict between the R and President Clinton in 1995 resulted in this.