History: Black And White Photos Of New York City, United States

As a result of the Watergate scandal, in 1974 Nixon became the first U.S. president to resign, to avoid being impeached on charges including obstruction of justice and abuse of power; he was succeeded by Vice President Gerald Ford. The Jimmy Carter administration of the late 1970s was marked by stagflation and the Iran hostage crisis. The election of Ronald Reagan as president in 1980 heralded a rightward shift in American politics, reflected in major changes in taxation and spending priorities. His second term in office brought both the Iran-Contra scandal and significant diplomatic progress with the Soviet Union. The subsequent Soviet collapse ended the Cold War.
Contemporary era
Under President George H. W. Bush, the United States took a lead role in the UN–sanctioned Gulf War. The longest economic expansion in modern U.S. history—from March 1991 to March 2001—encompassed the Bill Clinton administration and the dot-com bubble. A civil lawsuit and sex scandal led to Clinton's impeachment in 1998, but he remained in office. The 2000 presidential election, one of the closest in American history, was resolved by a U.S. Supreme Court decision—George W. Bush, son of George H. W. Bush, became president.