George Bush became the forty-first President of the United States on January 20, 1989.
Savings and Loan
Shortly after President Bush took office, a scandal surrounding the nation's Savings and Loan Bank was exposed. Over the past decade more than a thousand Savings and Loan banks had failed due to rampant mismanagement and fraud resulting from a failure to regulate. Among those running for cover from the scandal was the President's son, Neil Bush. President Bush introduced legislation to rescue and rebuild the Savings and Loan banks, a plan which would ultimately cost tax payers hundreds of billions of dollars.
Exxon Valdez
In March of 1989 the Exxon Valdez, a large oil tanker, was entering the Port of Valdez, Alaska when it collided with a reef that ripped a gaping hole in its hull. More than 11 million gallons of crude oil were spilled into the Prince William Sound, destroying wildlife along the Alaskan coast. When the Exxon Corporation failed to sufficiently clean up the oil, President Bush sent in American troops to do the job.
Berlin Wall
The Berlin Wall, the symbol of the Cold War divisions between East and West, was opened, and then destroyed in November of 1989.
Panama
In December of 1989, President Bush ordered United States troops into Panama to overthrow the government of General Manuel Antonio Noriega, and to bring Noriega to the United States to face charges of drug trafficking. Noriega escaped U.S. troops and evaded capture for a number of weeks before surrendering in January of 1990. In 1992 an American court found him "guilty" of drug trafficking and sentenced him to forty years in prison. Guillermo Endora was declared the new president of Panama.
Malta Summit
The first in a long series of summit meetings between President Bush and Soviet leader Mikhail Gorbachev took place in 1989 on a Soviet ship anchored off the coast of Malta.
Washington Summit
In May 1990, Soviet leader Mikhail Gorbachev visited Washington D.C. to meet with President Bush. The two leaders signed a treaty outlawing all chemical weapons, and several other treaties for the improvement of trade relations between the United States and the Soviet Union.
Helsinki Summit
In September of 1990, Soviet leader Mikhail Gorbachev and President Bush met in Helsinki, Finland.
Paris Summit
In November of 1990 , Soviet leader Mikhail Gorbachev and President Bush met in Paris, France to discuss the situation in Iraq. The talks ended with the Soviet's agreeing to back the United States' efforts to force Iraq from Kuwait. The Paris meeting also resulted in a treaty which called for the destruction of certain classes of non-nuclear weapons in Europe.
"Operation Desert Storm"
In August 1990 Iraq invaded neighboring Kuwait. President Bush sent U.S. troops over to the Kuwaiti border to put pressure on Iraq's new leader, Saddam Hussein, to leave Kuwait. The President also sent U.S. troops to the Saudi Arabia/Iraq border to defend the Saudis against a possible Iraqi attack. Shortly after the invasion of Kuwait, the United Nations sanctioned an embargo of Iraqi trade, and President Bush sent the United States Navy over to the Persian Gulf to enforce the embargo. In November of 1990 the United Nations delivered an ultimatum to Iraq to leave Kuwait by January 15, 1991 or face military action. Iraq failed to comply, and on January 16, 1991 (January 17 Iraq time) President Bush started a bombing campaign on Iraq and Kuwait which he called "Operation Desert Storm." A second ground campaign phase of "Operation Desert Storm" went into effect on February 23, 1991 (February 24 Iraq time). The ground campaign successfully drove Iraqi forces out of Kuwait within one hundred hours.
Kurd Rebellion
Soon after Iraq's defeat, the Kurds, a small group living under Iraqi rule, began a rebellion which was to fail. In April of 1991 United States troops set up a safe zone in Iraq for Kurdish refugees. The United States provided food, clothing, and protection for the Kurds until July of 1991, when the bulk of American troops were withdrawn from Iraq.
Union of Soviet Socialist Republics Disbanded
In September of 1991, President Bush formally recognized the Baltic states of Estonia, Latvia, and Lithuania as free and independent states and encouraged the Soviet Union to do the same. The recognition of the Baltic states' independence by the Soviet Union two days later signaled other Soviet states to declare their own independence. One month later the Soviet Union no longer existed. A loose Commonwealth of independent states was set up in the Soviet Union's place, and President Bush quickly established diplomatic relations with the new nation. President Bush was also quick in resigning the START I treaty with the four former Soviet states of Russia, Ukraine, Kazakhstan, and Belorushad which possessed the bulk of the nuclear arsenal of the former Soviet Union.
President Bush Travels to Japan
In January of 1992, President Bush traveled to Japan to try and secure a lifting of Japanese restrictions of American imports. The trip was part of an on-going campaign by the Bush Administration to balance the rate of American exports to equal that of foreign imports.
Los Angeles Riots
In the spring of 1992 a California motorist with a video camera video taped several police officers beating Rodney King, an African American motorist. When an all-white jury found the first four officers to go to trial in the case "not guilty" of using excessive force, rioting occurred in Los Angeles and other major United States cities. The rioting in Los Angeles left 53 people dead and caused over a billion dollars in property damage. President Bush was forced to send in 5,000 National Guard troops to restore order. The Bush Administration later passed legislation to provide federal funds to clean up and rebuild areas hit by the rioting. The following April, the remaining two officers were found guilty of violating King's civil rights.
Legislation
Clean Air Act Revision
In November 1990, Congress passed the Bush Administration's proposal to amend emission standards in the Clean Air Act of 1970; the amendment failed to limit carbon dioxide emissions which are responsible for global warming.
Income Tax Increase
In November of 1990, Congress passed President Bush's plan to raise federal income taxes to deal with the federal deficit and to help bail out the failed Savings and Loan banks.
Treaty on Conventional Armed Forces in Europe
President Bush and Soviet leader Mikhail Gorbachev created the Treaty on Conventional Armed Forces in Europe while meeting in Paris in November of 1990. The Treaty, which called for the destruction of certain classes of non-nuclear weapons in Europe, was not signed until 1992.
Strategic Arms Reduction Treaty (START I)
In July of 1991, President Bush traveled to Moscow were he and Soviet leader Gorbachev created the Strategic Arms Reduction Treaty (START I), which reduced long range nuclear missiles by a third.
Arms Reduction
In September of 1991 President Bush announced that the United States would destroy the majority of its short range nuclear weapons on the condition that the Soviets responded by doing the same. The Soviets agreed to destroy their own short range nuclear missiles two days later.
U.S. Aid to Russia Approved
In April of 1992, President Bush was successful in driving a bill through Congress which provided Russia with $12 billion aid for the construction of a free market economy.
Strategic Arms Reduction Treaty (START II)
In June of 1992, President Bush met with Russian President Boris Yeltsin to sign START II, which cut the number of nuclear arms possessed by both nations to half of what it had been under START I.
North American Free Trade Agreement (NAFTA)
In December of 1992, President Bush signed the North American Free Trade Agreement (NAFTA) which provided for the gradual lifting of trade barriers between the United States and Mexico.
