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Budget - Housing Bubble Burst (Monetary Policy)
Start of the Great Recession when Congress starts to recognize the shadow banking system. This system created credit across the globe but is not supervised over regular oversight. The shadow banking system is also dealing with unregulated activity under regulated institutions. https://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Budget and Trade - Stock Market Crash (Fiscal Policy)
When the stock market crashed in dropped 777.68 points. The most it has ever dropped in history. Not only did it affect our economy it also affected other countries too.
https://www.thebalance.com/stock-market-crash-of-2008-3305535 -
Budget - Passing of the ARRA (Fiscal Policy)
President Obama passes the American Recovery and Reinvestment Act (ARRA). This Act created new jobs, saved existing ones, and spurred economic growth by cutting taxes and federal funds. This however caused the Debt to rise to $11 Trillion, and the Deficit to $1.4 Trillion.
https://www.treasury.gov/initiatives/recovery/Pages/recovery-act.aspx
https://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Savings - Financial Regulations Bill (Fiscal Policy)
Congress passed the Financial Regulations Bill in 2008, it helped to prevent the dangerous behavior and regulatory failures that almost brought the economy to the brink of collapse in 2008 when millions of Americans were out of jobs and savings. President Obama was able to protect the larger economy for people and prevent the United States from going into more debt like those past years.
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/20/AR2010052003503.html?sid=ST2010052005035 -
Leader - The Second Inauguration of Barack Obama (Result)
President Obama planned to kick off his term with a bang. He planned to protect the freedom of the people when saying, “Preserving our individual freedoms ultimately requires collective action,” (Obama). He also planned for a more inclusive America that supports gay rights, or the fight against climate change.
http://bangordailynews.com/2013/01/21/politics/facing-challenges-obama-kicks-off-second-term-at-public-inauguration/
https://www.youtube.com/watch?v=BzC135ql_wA -
Leader - The Inauguration of Donald Trump (Result)
Trump was the oldest president to be inaugurated seventy years old. He gave one of the most radical speeches ever by a president and alarmed leaders around the world. There were not as many people there as expected and Trump was not happy.
https://www.nytimes.com/2017/01/22/briefing/donald-trump-inauguration-womens-march.html?_r=0
