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Housing Meltdown
Housing prices fell drastically. This lead to both instability in the housing market and economy. -
Collapse of Lehman Brothers Bank
The bankruptcy of Lehman Brother's Bank caused some depriation in the real estate market, further damaging the economy. -
Obama Elected
This change in leadership lead to unstable economic conditions. The president created his own plan for attacking our economic problems. -
Stimulus Plan
This plan is to spend billions of dollars to create jobs and stimulate the economy. Because of this act, taxes increased dramatically. -
Close Foreign Ties
Because the UK, US, Japan, and China were so closely tied, the economic crisis of one spread to the others. Trade was limited and all of the countries lost tons of money. -
Health Reform Act
This act costs the US billions of dollars to pay for healthcare for everyone. This act increased taxes. -
Obama Re-elected
The fact that Obama was reelected meant that his same programs would be in use. These programs are not working, and a change in leadership might have helped correct this. -
Medicare / People Living Longer
Because people are living longer, they are using Medicare for a longer period of time. As a result, there will be less money for younger generations because the generation above us is much larger (the baby boomers).
