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Budget Deficit (Housing Market Crash)
In 2007, the house market crash was the worst in U.S. history. There was a lot of financial innovation at the time which included many types of lending such as interest adjustable loans, interest only loans and zero down loans. Many people were taking advantage of the market conditions by buying homes and flipping them for profit. In the summer of 2007 the credit markets froze and things began to rapidly change. People would buy homes that they could not afford and were unable to pay the loans m -
Budget Defecit (2008 Financial Crisis)
In 2008 the US suffered from the worst economic depression since the Great Deprssion. House prices fell 31.8% more than the depression and the unemployment rate was still above 9% two years after the recession ended. -
Obamacare Bill
The creation of Obama Care has been challenging for many Americans. There are new taxes to help insure millions of people, the taxes that affect you directly are the individual mandate and employer mandate. Shopping for coverage is much more limited. Due to this, shopping for health insurance can be complicated. -
Leadership Deficit (Taxes on small businesses)
Obama raised taxes on private small business making hard for them to make more profit on their service and time. He enacted tax cuts on families that make less than $250,000 a year, but this attacks more of the people that own small businesses and Obama says that he is attacking the rich people. These people are rich because they worked hard and made it places. they should not be penalized for that. -
Saving Deficit (Social Security)
In 2013, 882 billion dollars were spent by giving financial aid to US citizens above the age of 65 to keep them above the poverty line. The government is using money to pay off other things without us seeing leaving us without money to keep us afloat after we retire. -
Balance of Payments (China)
For years, China has been supplying America with the necessary goods that they needed. Since the US has an overconsumption problem and China over produces, the two countries created ties with each other to solve the imbalance and to prevent the next crisis. However, China’s economy has recently taken a turn for the worse. Many Americans are worried that China’s diminishing economy will affect the US, since we have such close economy and trade based ties with them.