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ECONOMY CRASHES
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HOUSING PRICES
The housing prices peaked in 2006 and crashed in 2007. The Case-Shiller home price index is reported the largest price drop in history. October of 2007 the US secretary of treasury called the “bursting house bubble the greatest risk to our economy” http://en.wikipedia.org/wiki/United_States_housing_bubble -
CONSUMERS
In 2008, consumers start to save more and spend less. The last three months of year 2008, the savings rate rose to its highest since 2002, which was a rate of 2.9%. http://www.nytimes.com/2009/02/03/business/economy/03econ.html?_r=0 -
WORLD ECONOMY AND TRADE GOES DOWN
linkIn July 21-22, 2009, there was a meeting of APEC ministers to try and solve the problem of a 1.4% contraction in world economy and 10-15% decline of world trade. Due to the economic crisis, United States has decided to create “Flexible labour markets, adaptable workforces, well-designed social safety nets, investment in education and training, and an environment where innovation and entrepreneurship can flourish." -
HEALTH CARE REFORM
2010 the health care reform was passed ( affordable care act) It’s goal was for it cover over 32 million uninsured Americans at the start of 2014. The growth in health care cost is the number one reason of America’s fiscal problems. http://www.washingtonmonthly.com/magazine/march_april_2012/features/obamas_top_50_accomplishments035755.php?page=all -
OSAMA BIN LADEN
In 2011 President Obama Ordered special forces to raid a compound in Pakistan that he believed held terrorist leader Osama Bin Laden. We spent a ton of money trying to find Osama. http://www.washingtonmonthly.com/magazine/march_april_2012/features/obamas_top_50_accomplishments035755.php?page=all -
CREDIT CARD DEBT
In 2012, Of the U.S. households that do have credit card debt, the average amount of credit card debt is an astounding $15,799.
http://theeconomiccollapseblog.com/archives/55-interesting-facts-about-the-u-s-economy-in-2012 -
GOV SHUTDOWN VIDEO
VIDEO2013: GOVERNMENT SHUTDOWN REPUB WANTS TO DELAY OBAMACARE, DEMOCRATS DON’T -
RICH AND POOR
2014 economist have predicted that users will continue to spend the same amount of money through good and bad. The rich are getting richer and the poor that make up 90% of the economy are getting poorer. ( http://www.theguardian.com/money/2014/jun/15/us-economy-bubble-debt-financial-crisis-corporations)