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The stock market, as represented by the Dow Jones Industrial Average, fell 777.68 points in intra-day trading. That was the largest point drop in any single day in history. It was because Congress rejected the bank bailout bill. But the crash had been building for a long time.
-9/29/08
-Result
-Budget
Link: https://www.thebalance.com/stock-market-crash-of-2008-3305535 -
The American Recovery and Reinvestment Act was created to ease economic downturn which began in 2007. The act provided jobs and attempted to lower the unemployment rate. Also provided tax relief for businesses and individuals. The initial cost of this act was 787 Billion, but it was later revised which cost an additional 831 billion.
Type: Budget deficit, monetary policy
URL: https://www.cbo.gov/publication/49958 -
To offer affordable, quality healthcare for all Americans and reduce the growth of health care spending. Before the Obamacare reform, an estimated 44 million American Citizens did not have health care.
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Debt held by individuals, corporations and companies continue to grow. The government borrows money from public establishments like banks and investors and does not have funds to pay it back. The current net debt (debt held by public) is 13.1 trillion.
Type: Savings deficit- this is a result of both fiscal and monetary policy
Url: http://www.cbpp.org/research/federal-budget/policy-basics-deficits-debt-and-interest -
It is a trade agreement among counties along the pacific rim. They aim to promote economic growth by creating jobs, enhance innovation, and raise living standards.
-2/14/6
-Monetary
-Trade
-Link: https://ustr.gov/tpp/ -
The U.S.A has been trading with China for over 30 years and has imported way more goods from China than China has imported from us. We have been importing from China too much and we are not exporting enough to make up for how much we are importing.
