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Wall Street Crash
The crash of 2008 was caused by the instability of the american market because of the ability to create new lines of credit which hurt the economy. People began to buy more than they could by purchasing houses and investing in a bunch of things by buying loans from different banks. This resulted with the largest dip in the economy since the Great Depression.
Deficit Area: Budget Savings Leadership
Monetary Policy
[Source]http://cashmoneylife.com/economic-financial-crisis-2008-causes/ -
TARP Bailout
Source
TARP stands for the troubled asset relief program, a program created to stabilize the economy after the economic collapse in 2008.It gave $700 billion to the top investment firms in the US in an attempt to prevent avoidable foreclosures and promote growth. -
Reinvestment Act of 2009
The immediate goal of this act was to save and create jobs. Its secondary purpose was to bring relief to those most affected by the 2008 collapse and to invest in infrastructure, renewable energy, education, and health. Leadership Fiscal Policy Source -
Obama Care / Affordable Care Act
President Barack Obama created the Affordable Care Act which was created in an attempt to grant access to healthcare to millions of Americans and also decrease the amount of US spending on healthcare as a whole. Leadership Fiscal Policy Source -
Budget Deficit 2008 v. 2016
The budget deficit in 2008 was $-1.412 trillion. The deficit in 2016 was $-5.515 billion. Our deficit has largely improved since the 2008 financial collapse. Result Budget Source -
Unemployment Rate Drops from 2010
The unemployment rate was extremely high and peaked in the year 2010 (at almost a rate of 10%) but has been continually dropping since then. The unemployment rate has been decreasing and was now only at a rate of about 4.7% at the end of the year 2016. Leadership Result Source
