Economy Timeline

By chickennuggets42

  • Wall Street Crash

    Top Ten Finacial Events of the DecadeDEFICIT: SAVINGS
    In September of 2008, it became evident that our economy was in worse shape than we knew. Financial institutions started to fail and Wall Street came down like a house of cards. The Bush administration had to "bail out" a number of banks and other financial institutions in order to keep them solvent.

  • Wall Street Crash Image

  • Finacial Crisis of 2008

    ImageFinacial CrisisDEFICIT: BUDGET
    The financial crisis of 2008 led to the worst recession since the Great Depression of 1929.

  • Bernard Madoff and His Ponzi Scheme

    ImageBernard Madoff
    DEFICIT: LEADERSHIP
    Bernard Madoff (Bernie) is a former Chairman of the NASDAQ stock exchange who started his own investment advisory firm. He pled guilty to defrauding investors in the amount of over $50 billion by running the largest Ponzi scheme on record over at least two decades.

  • Libya and the Middle East

    ImageLibya and Middle East Boil IssuesDEFICIT: TRADE
    The situation in Libya, although hopeful for democracy, is adding more uncertainty to the entire Middle East region following the recent uprising in Egypt and the prospect of trouble in Saudi Arabia. With oil at 100 dollars a barrel, every increase of a single dollar has a major impact on the costs of nearly everything that we consume, as the increases are passed down to the consumer and are magnified over layers of manufacture and distribution.

  • 2011 Annual Trade Deficit is 3.7% of US GDP, China goods 2% of US GDP

    GDP ImageGDP Link
    DEFICIT: TRADE
    The 2011 trade deficit increased 11.6% from 2010. As a percentage of GDP the trade deficit is returning to pre-recession levels. The trade deficit is now 3.7% of U.S. GDP, up from 3.4% in 2010.

  • Obama Health Care Act Passed

    ImageObamaCareDEFICIT: LEADERSHIP
    Obama's health care law passed which raised a lot of controversy across the nation. Most Democrats favored the law stating it could help the nation where as Republicans stood on the side of how this could ruin our economy.

  • Retirement Crisis of 2013

    ImageRetirement Crisis
    DEFICIT: SAVINGS
    57 percent of American workers currently have less than $25,000 in total savings and investments (excluding the value of their homes) put aside for retirement. In 2008, that number was 49 percent.

  • Budget Deficit of 2014

    U.S. Federal BudgetDEFICIT: BUDGET
    U.S. Federal budget deficit will be $564 billion. That's because U.S. government spending, budgeted at $3.901 trillion is higher than projected U.S. government revenue, only $3.337 trillion. This is the lowest deficit since the recession, and about a third of the record budget deficit of $1.4 trillion set in FY 2009.

  • Budget Deficit 2014 Image

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