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The American Recovery and Reinvestment Act
Fiscal Policy
Deficit Area: Budget The purpose of this legislation was to stimulate new jobs by cutting down taxes and investing in things such as energy, healthcare, infrastructure, and education. The end goal of this act was to strengthen the economy by helping by helping more students receive a college education. https://www2.ed.gov/policy/gen/leg/recovery/factsheet/overview.html -
Obama Signs Tax Cut Bill
Fiscal Policy
Leadership deficit President Obama signed an $858 billion middle-class tax cut bill in the Eisenhower Executive Office Building. He claimed that this new bill would protect the middle class, grow the economy, and help create more jobs for the American people. However, people from both parties complained about the bill. http://www.upi.com/News_Photos/view/upi/555531a45d616f90cfa12f07b36c46c5/Obama-signs-tax-cut-bill-in-Washington/ -
Trump pulls out of the Trans-Pacific Partnership
Fiscal Policy
Trade deficit President Trump made it well known on the campaign trail that he disliked free trade deals such as the TPP and NAFTA. In an effort to keep his promises, President Trump pulled out of the TPP in an executive order. The partnership was going to be with Australia, Canada, Myanmar and others. https://www.google.com/amp/mobile.nytimes.com/2017/01/23/us/politics/tpp-trump-trade-nafta.amp.html?client=safari -
US Trade Deficit Doubled
Fiscal Policy
Trade Deficit Under the trade deficit deal with korea, it created a loss for more than 106,000 american jobs. The trade deficit with korea increased to $16 billion. http://www.huffingtonpost.com/lori-wallach/new-data-show-us-trade-de_b_9841764.html -
Bipartisan Budget Act
Fiscal Policy
Budget Deficit The Bipartisan Budget Act of 2015 increased spending for three years. After the three years, spending cuts would occur. It would not be until 2025 that significant cuts would be made. http://www.pgpf.org/analysis/understanding-the-bipartisan-budget-act-of-2015 -
Feds Raise Rates for the First Time in 2016
Monetary Policy
Savings Deficit The federal reserve raised its interest rates for just the second time by 0.25% (increasing it from 0.25% to about 0.50%). This results in consumers and businesses being able to pay more to borrow, an increasing job market, and a fall in the unemployment rates. http://money.cnn.com/2016/12/14/news/economy/federal-reserve-rate-hike-december/
