U.S. presidential election, 1992

The U.S. presidential election of 1992 featured a three-way battle between Republican George Bush, the incumbent President; Democrat Bill Clinton, the governor of Arkansas; and independent candidate Ross Perot, a Texas businessman. Bush had alienated much of his conservative base by breaking his 1988 campaign pledge against raising taxes, the economy had sunk into recession, and his perceived best strength, foreign policy, was regarded as much less important following the collapse of the Soviet Union and the relatively peaceful climate in the Middle East following the defeat of Iraq in the Gulf War. Clinton successfully capitalized on these weaknesses by running as a centrist New Democrat and won the presidency. (Perot's campaign was actually labeled by some as being more liberal than conservative -- including plans to significantly raise the gasoline tax and to oppose the NAFTA free-trade agreement.)

Background

As the 1992 presidential election approached, Americans found themselves in a world transformed in ways almost unimaginable four years earlier. The familiar landmarks of the Cold War — from the Berlin Wall to intercontinental ballistic missiles and bombers on constant high alert — were gone. Eastern Europe was independent of communist influence, the Soviet Union had dissolved, Germany was united, Arabs and Israelis were engaged in direct negotiations, and the threat of nuclear war was greatly diminished. It appeared that many of the great threats that had faced the United States for years were gone.

Related Topics:
Cold War - Berlin Wall - Intercontinental ballistic missiles - Bomber - Eastern Europe - Communist - Soviet Union - Germany - Arab - Israel - Negotiation - Nuclear war

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At home, however, Americans were less sanguine — and faced some deep and familiar problems. By 1991, the United States found itself in its deepest recession since the early 1980s. Many of the job losses were occurring among white collar workers in middle management positions, not solely among blue collar workers in the manufacturing sector who had been hit hardest in earlier years. Even when the economy began recovering in 1992, its growth was virtually imperceptible until late in the year, and many regions of the country remained mired in stagnation. Moreover, the federal deficit continued to mount, propelled most strikingly by rising expenditures for health care. Many Americans exhibited profound pessimism about their future, believing that their country was headed in the wrong direction.

Related Topics:
1991 - United States - Deepest recession since the early 1980s - White collar - Blue collar - Manufacturing - Economy - 1992 - Deficit - Expenditures - Health care

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