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1 byte removed ,  20:27, May 28, 2009
→‎Economy: possessive, not contraction
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===Economy===
 
===Economy===
With a large federal deficit, Democrats in Congress believed in raising taxes and Republicans believed in reducing federal domestic spending. President Bush and Congressional Democrats reached a compromise that would both have spending cuts and increased taxes, which would reduce the deficit $500 billion over five years as part of a 1990 budget agreement. In 1991 the U.S. entered into a mild recession. Unemployment was at 7.8%, although inflation and interest rates were at it's lowest in years. The recession lasted for about six months, although Democrats made it an issue for two years.
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With a large federal deficit, Democrats in Congress believed in raising taxes and Republicans believed in reducing federal domestic spending. President Bush and Congressional Democrats reached a compromise that would both have spending cuts and increased taxes, which would reduce the deficit $500 billion over five years as part of a 1990 budget agreement. In 1991 the U.S. entered into a mild recession. Unemployment was at 7.8%, although inflation and interest rates were at its lowest in years. The recession lasted for about six months, although Democrats made it an issue for two years.
    
===Government Acts===
 
===Government Acts===
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