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Panic of 2008
This is when the stock market dropped by almost 50% and is the largest financial crisis since Great Depression. Many banks needed bailing out and many large cooperations were in jepordy of closing down. Housing also had a very large increase in forclosures. http://people.opposingviews.com/DM-Resize/photos.demandstudios.com/getty/article/45/51/rba1_09.jpg?w=600&h=600&keep_ratio=1 -
War and Military Spending
By this date, the total cost of the wars in the Middle East was 900 Billion USD. And Later, In 2011 (June) the total cost was 3.7 Trillion Dollars. Picture: http://www.commondreams.org/views/2011/01/27/cow-most-sacred-why-military-spending-remains-untouchable -
Obama Sworn into White House
President Barack Obama was sworn into office in the white house. -
BP Oil Spill
Explosion in the Gulf of Mexico of an oil rig causing many gallons of oil and cost about 100 Billion dollars to clean up and move away from the disaster Picture: http://people.opposingviews.com/DM-Resize/photos.demandstudios.com/getty/article/45/51/rba1_09.jpg?w=600&h=600&keep_ratio=1 -
Retirement Savings deficit event
An event was held which focused on the decreasing rate of retirement savings amoung the American people. This could negatively impact the US economy becasue of people not having enough money after retirement and need to seek government assistance. URL: http://assets.newamerica.net/blogposts/2011/event_follow_up_facing_up_to_the_retirement_savings_deficit-59092 -
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Fluxuation in Savings
Savings rates are generally going down, whch means that people are theoretically spending more than saving. This could be because of loans and credit that would negatively impact the US economy in Savings deficit. This ultimately is holding back the growth of enonomy. URL: research.stlouisfed.org -
Jacob Lew (Secretary of Treasury) Took Office
Jacob Lew was brought to office and has not effectively lead the US economy to a successful state. His actions have not recreated a plan to decrease deficit. Picture: http://www.treasury.gov/about/Pages/Secretary.aspx -
Russia Bans US and EU Food Imports
Due to the crisis in Ukraine, Russia has launched its own economic battle by banning all food imports from the US and Europe. Europe is a major provider to Russia and Russia ranks 23rd among food buyers for the US. Article:
