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GDP fell
In the last three months of 2008, the GDP fell 3.8%. This is the biggest decline in 26 years. (Budget Deficit)
https://www.youtube.com/watch?v=Ln6VGCB8f_c -
Obama is inaugurated
Obama is inaugurated. George W Bush is now out of office. (Leadership deficit)
Picture Link:
http://dailysignal.com/2012/01/01/chart-of-the-week-u-s-presidents-ranked-by-budget-deficits/ -
The Affordable Care Act is passed
Obama passes the Affordable Care Act, which helps spread health care to low income citizens. It combined many acts into one. (Budget Deficit)
Picture Link
http://www.boostlabs.com/portfolio-item/white-house-initiative-aapi-affordable-care-act-infographic/ -
US Trade Deficit
The US trade deficit was $497.8 billion. In 2010, imports of capital and industrial goods were up 25% from the previous year which is good for the US economy by giving businesses the confidence to invest and also creating new jobs. (Trade Deficit) -
CPI increase
In the year 2012, the CPI rose 1.7% (it rose 3% in 2011). The energy index increased .5%, the gasoline index rose 1.7% and the index for food rose 1.8%. All of these things helped increase the CPI in 2012. (Budget Deficit)
Picture Link
http://www.bls.gov/opub/ted/2013/ted_20130117.htm -
Retirement Savings
The NIRS report showed that American families are between $6.8-14 trillion short of recommended retirement savings marks. Most have saved less than thier annual income. (Savings Deficit) -
Budget Deficit
The federal government's annual deficit is $680 billion, which is the lowest since 2008. The highest was in 2009 at $1.4 trillion. (Budget Deficit)
Picture Link: http://money.cnn.com/2013/10/30/news/economy/deficit-2013-treasury/ -
Budget Deficit
Budget deficit will fall to $492 billion and the GDP will be 2.8 % of the economy. The GDP average for the last 40 years has been 3.1%.