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"Housing Bubble" Bursts
The housing bubble bursts which leads to the beginning of the Great Recession. The economy begins to face a major crisis. [Budget] Image: http://www.philadelphia-reflections.com/images/housebubble.jpg http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Financial Crisis
This is the worst financial crisis since the Great Depression. It almost caused collapse of major financial institutions. It was a key role in major businesses failing.
http://www.economist.com/news/essays/21600451-finance-not-merely-prone-crises-it-shaped-them-five-historical-crises-show-how-aspects-today-s-fina -
Barack Obama Elected
Barack Obama was elected president. He is the first African-American president of the United States.
Image:
http://upload.wikimedia.org/wikipedia/commons/e/e9/Official_portrait_of_Barack_Obama.jpg -
American Recovery and Reinvestment Act
Obama and Congress passed the American Recovery and Reinvestment Act. It provided tax cuts and funds to save and create jobs. It aimed to stimulate economic growth. [Budget] -
Debt Ceilling
debt ceilling Video: http://www.investopedia.com/video/play/w the debt ceilling is a limit put on the amount of money the government can borrow. This is a problem now beacuse our national debt keeps getting higher and lawmakers now havre to raise the debt ceilling, which makes it harder and harder for us to pay off our debt as a nation. Image: http://money.cnn.com/2014/02/11/news/economy/debt-ceiling-reset/ -
Barack Obama Re-lected
Obama decided that the Monetary policy would be the better choice to try and fix the economy, by printing more money and infusing it into the economy. He decided this over the Fiscal Policy, which would be reducing taxes. http://www.foxbusiness.com/investing/2012/09/10/obama-chose-monetary-policy-and-youre-feeling-it/ -
Trade exports hit a record high
Under President Obama's leadership, U.S. exports have hit record highs, $2.3 trillion last year. -
Americans dont know how to save
Americans dont save becasue we dont know how. Borrowing money has become too easy and becasue we want it now! http://www.alternet.org/economy/5-big-reasons-why-americans-dont-save-their-money?page=0%2C1 http://www.usatoday.com/story/money/personalfinance/2014/06/23/americans-emergency-savings/11085869/ -vid
