-
The Great Recession
The Great Recession was mainly caused by the significant loss of money in the US housing market. It deepened when large amounts of mortgage-backed securities and derivatives decreased in value. This lead to cutbacks in consumer spending. It is a budget deficit because the government’s failure to budget their money appropriately lead to this recession.
URL: http://www.investopedia.com/terms/g/great-recession.asp -
2008 Presidential Election
The 2008 United States presidential election was mainly between republican John McCain, and democrat Barack Obama. Barack ended up winning the election with 365 electoral votes, compared to McCain’s 173. This falls under leadership because this election was for the next leader of the United States.
http://www.270towin.com/2008_Election/ -
US Inflation
United States inflation rates dropped below zero between March and October of 2009. This made the value of US currency drop. Inflation goes up when our budget deficit grows, making them impact each other directly being the result.
URL: http://www.usinflationcalculator.com/inflation/current-inflation-rates/ -
ObamaCare
The Obama administration passed the Affordable Care Act aiming to provide Americans with more affordable insurance. The Affordable Care Act was first passed in Senate in 2009, and was signed into law in 2010. This falls into leadership because it was passed under the Obama Administration.
URL: http://obamacarefacts.com/obamacare-facts/ -
Beginning of the Decline in US Personal Savings Rates
Since 2013, the United States personal Savings Rates have gone down and stayed down after skyrocketing to almost 11%. They now remain between 5% and 6%. This means that United States citizens have been saving significantly less of their money. This is a savings deficit because there is a lack of money being saved by American citizens.
http://www.tradingeconomics.com/united-states/personal-savings -
Current US Trade Deficit
The deficit increased from $42.5 billion in September to $43.9 billion in October because US trade was taking in more than it was giving out. This falls under result because it is our nation’s result of not exporting as much as it imports.
URL: https://blog.bea.gov/category/trade-deficit/
