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Economic Stimulus Act
George Bush signed the Economic Stimulus Act of 2008, and the bill consisted of $600 tax refund to low and middle income Americans.
(Leadership)
http://www.cnn.com/2008/POLITICS/02/13/bush.stimulus/
http://georgewbush-whitehouse.archives.gov/news/releases/2008/02/20080213-3.html -
American Recovery and Reinvestment Act
The government passed the American Recovery and Reinvestment Act (ARRA), which provided tax cuts and federal funds to create new jobs, save jobs and encourage economic growth. As a result, the debt goes to 11 trillion dollars and the deficit is now 1.4 trillion dollars
(Savings)
http://www.treasury.gov/initiatives/recovery/Pages/recovery-act.aspx
http://scienceprogress.org/wp-content/uploads/2010/01/arra_science_591.jpg -
Biggest Bank Failure in History
The government closes Washington Mutual bank and the assets are sold to JPMorgan Chase.
(Savings)
https://books.google.com/books?id=DWKLAwAAQBAJ&pg=PT119&lpg=PT119&dq=troubled+asset+relief+program+778&source=bl&ots=FxHJgxx4UY&sig=BMB-eORw27RUofhNb9z6Fa3CJhw&hl=en&sa=X&ei=Ug9eVfu6JJeyoQTb94GYCQ&ved=0CDsQ6AEwBA#v=onepage&q=troubled%20asset%20relief%20program%20778&f=false -
Congress rejects TARP
Congress rejects a $700 billion Wall Street financial rescue package, known as the Troubled Asset Relief Program or TARP, sending the Dow Jones industrial average down 778 points, its single-worst point drop ever
(Leadership)
https://books.google.com/books?id=DWKLAwAAQBAJ&pg=PT119&lpg=PT119&dq=troubled+asset+relief+program+778&source=bl&ots=FxHJgxx4UY&sig=B
http://takeitpersonally.blogspot.com/2008/11/expanding-tarp-troubled-asset-relief.html
http://money.cnn.com/2008/09/29/news/economy/bailout/ -
America Launches Troops Against the Taliban
Over 15,000 American, British and Afghan troops launch the biggest offensive in Afghanistan since the overthrow of the Taliban in 2001
(Savings)
http://worldtimeline.info/usa/usa2010.htm -
Debt Ceiling Raised
The debt ceiling is raised by 2.4 trillion dollars.
(Budget)
http://money.cnn.com/2011/08/01/news/economy/debt_ceiling_breakdown_of_deal/
http://blog.acton.org/archives/61282-christians-oppose-debt-ceiling-charade.html -
Government Shut Down
The US government shutdown due to budget disagreements in Congress. This eventually resulted in a raised debt ceiling.
(Leadership) http://www.wsj.com/articles/SB10001424052702304475004579276751433735152 -
Highest Trade Deficit in 6.5 Years
The trade deficit is now 51.4 billion dollars, the highest sic 2008.
(Trade)
http://www.tradingeconomics.com/united-states/balance-of-trade
https://barryonenergy.wordpress.com/2010/08/16/can-renewable-energy-help-reduce-the-trade-deficit-depends-on-the-will-and-wisdom-of-our-policy-makers-in-washington/
