The United States

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the post-World War II era. Yet the population, per-capita wealth, and general welfare are unevenly distributed, with affluent areas often contiguous with areas of poverty. Beginning in the 1970s faced economic difficulties brought on by a high foreign trade deficit, the declining value of the dollar abroad, high governmental spending, and inflation. In the 1980s, inflation was brought under control, and tax-cutting stimulated economic expansion in some sectors. The trade deficit remained, however, and the national debt burgeoned. To address the issue of deficit spending, Congress in 1993 passed a budget combining tax increases and spending cuts. That same year a recovery was under way from a national recession that began in 1990, although economic restructuring eliminated much new job creation. Stressed by economic and social issues not easily resolved, voters in 1994 elected a Republican majority to both houses of Congress for the first time in 40 years.
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