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Energy Crisis
US didn’t like the rising prices of oil and thought that their Arab suppliers were more dependent on the US than the US was on them. An oil embargo was then placed by OAPEC, causing Oil to skyrocket in the US.
Deficit Area: Trade
Monetary Policy
Link: http://www.history.com/topics/energy-crisis -
American Recovery and Reinvestment Act
It was an act put in place by President Obama and it cut taxes by $288 billion, spent $224 billion in extending unemployment benefits, education, and healthcare, and it created jobs by allocating $275 billion in federal contracts, grants, and loans. The GDP was up 3.9% in 2009 and by 2010 the economy expanded 2.5%.
Deficit Area: Savings and leadership
Fiscal Policy
Link: https://www.thebalance.com/what-was-obama-s-stimulus-package-3305625 -
Brexit
The United Kingdom decided to withdraw from the European Union which could affect U.S. economy. One way it could affect our economy is it puts a strain on the stock market because people may not spend money if they think the country isn't going to do well and American consumers make up most of our economic activity but if they don’t spend money then the economy can’t grow.
Deficit Area: Trade
Result
Link: http://money.cnn.com/2016/06/24/investing/brexit-impact-on-american-global-economy/ -
The Effects of Immigration on the U.S. Economy
While some Americans believe immigrants are stealing their jobs from them, the immigrants are actually creating jobs for the US. Research shows that immigrants are helping substitute in for Americans who can’t work as well as keeping the average wage from falling, therefore helping the economy more than Americans think.
Deficit Area: Leadership
Result
Link: http://www.budgetmodel.wharton.upenn.edu/issues/2016/1/27/the-effects-of-immigration-on-the-united-states-economy -
Keystone XL Pipeline
Donald Trump has signed an executive order supporting two oil pipelines from Canada to the US. The pipeline would lower costs of oil and create at least 28,000 jobs. However, the route the pipeline takes is a fragile ecosystem and the environmental protection agency advises not to approve the pipeline.
Deficit Area: Trade and leadership
Result
Link: http://www.bbc.com/news/world-us-canada-30103078 -
The DOW Jones Hits 20,000 for the First Time
With the latest stock market surge, the Dow Jones has reached one of its biggest milestones. For the first time ever, the Dow Jones industrial average is trading over 20,000 points for the first time.
Deficit Area: Trade
Fiscal Policy
Link: http://www.usatoday.com/picture-gallery/money/2017/01/25/a-look-as-the-dow-makes-history-and-hits-20000/97035900/
