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Bush Deficit
Along with the deficit Bush had been running in 2008, A total of about 100B dollars was added to America’s deficit on the first of October because Bush’s recession-related spending and depressed revenues.
Monetary, Budget Deficit -
Troubled Asset Relief Program
President George Bush and the Congress pass the Troubled Asset Relief Program (TARP) to give money to ailing institutions.
Fiscal, Budget Deficit -
Unemployment Rate
After wavering back and forth for two weeks, on Nov. 5, the Dow settles into a two-month run above the 10,000 mark. The following morning, the Commerce Department says the unemployment rate hit 10.2 percent in October.
<ahref='http://http://www.huffingtonpost.com/2009/12/18/economic-crisis-timeline-_n_397360.html' >Result, Saving Deficit</a> -
Credit Freeze
The credit freeze led to a cash shortage for many businesses, such as Circuit City and the Big 3 auto companies. In response, the Federal Reserve lowered interest rates to zero, reducing LIBOR. However, banks continue to hoard cash into 2009. Monetary, Budget Deficit -
American Recovery and Reinvestment Act
Congress passed the American Recovery and Reinvestment Act of 2009. Many causes for the financial crisis have been suggested, with varying weight assigned by experts. The U.S. Senate's Levin–Coburn Report concluded that the crisis was the result of "high risk, complex financial products; undisclosed conflicts of interest; the failure of regulators.”
Monetary, Savings Deficit -
US Trade Deficit
Due to the an increase in imports and a decrease in exports, U.S.’s trade deficit with China had slowly raised.
Fiscal, Trade Deficit
