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Period: to
Economy
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Trade
The housing bubble bursts set off the subprime mortgage crisis. It also siginified the beginning of the recession. -
Leadership Change
Barack Obama inaugurated as the 44th President of the U.S. The party in charge changed from Republican to Democrats, so the policies will also change. -
Budget
President Obama signed the $787 billion economic stimulus package into law.
The "American Recovery and Reinvestment Act of 2009" includes a variety of spending measures and tax cuts intended to promote economic recovery. -
Savings
National savings rate reaches -2.0%. People are saving much less than they used to. -
Budget
The Immigration Modernization Act proposed more money to go into the immigration reforms. This took money away from the budget to push the country further into debt. -
Budget
The budget deficit was the lowest since 2007 because of economic growth and falling unemployment rates. The CBO believes that the deficit will increase. -
Trade
Highest level of imports as compared to exports coming in from China: 9,327.5 imports and 44,891.0 exports -
Leadership Change
The election for Congress gave the Republicans majority power. This caused problems within Congress between the executive office and Congress.
