President Richard Nixon's decision to close the gold window in 1971 began the country's progress of increasing poverty that started out slow and then expanded somewhat after the 1987 Black Monday event, then experienced a major boom during the 1990s that slowed in the 2001 recession. After the end of that recession, the poverty increases continued to boom until the 2008 recession, when extra poverty occurred after more austerity measures were introduced to combat the recession's after effects. The budget sequestration crisis of 2012-2013 increased poverty much more than any other period before that point, and that played a factor in the election of fascist to power across America between 2016 and today.