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The Great Recession
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The Great Recession
The Great RecessionThe unemployment rate going into the Great Recession was 5%, and after in June 2009, it reached 9.5% peaking a few months later at 10%. Job openings and employment rate dropped significantly and layoff rates were massive layoffs across all industries. Because many people lost their jobs, what once was savings had to replace the income in order to maintain the lifestyle they had before.
Savings, Result -
Obama Takes Office
Obama's First TermAdded way more jobs. Federal spending still moving faster than inflation but much less than George Bush. Federal debt held by US citizens (bonds and loans) has increased 90% since he took office, yet our total deficit decreased. Overall, many tax increases.
Leadership, result -
Obamacare
Affordable Care ActThe Affordable Care Act makes healthcare more affordable to poorer Americans while also combating rising healthcare costs. Increased taxes for the rich (200k and up).
Budget, Fiscal -
Arab Spring
Arab SpringOver $800 million was spent in US aid for the countries overrun with revolution. In addition, the turmoil drove the price of oil up to record prices.
Trade, Fiscal -
End of the Iraq War
Offical End of the WarGas prices were lowered and relations with foreign nations (middle east), partially retained from their previous status.
The Iran nuclear deal was later passed and economic effects followed.
Fiscal, Results -
Personal Savings Rate Reaches High
Personal SavingsIn December of 2012, personal savings rates increased to 10.5%, the highest rate since November 1981. As of this month, it was announced that personal savings for December 2015 were the highest in three years since the 10.5% spike.
Savings, Result
