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The Great Recession - Budget + Results
The Great Recession occurred from ‘07 -’09. The GDP fell 4.3 percent and it was the largest recession since WWII. The housing market fell from a peak worth of 69 trillion to 55 trillion.
http://www.federalreservehistory.org/Events/DetailView/58 -
TARP and Interest Rates - Leadership + Monetary
In 2008, Bush launched T.A.R.P. (Troubled Asset Relief Program). This resulted in banks slashing their interest rates, eventually reaching close to zero percent by 2009.
http://www.economist.com/news/schools-brief/21586527-third-our-series-articles-financial-crisis-looks-unconventional -
Federal Debt - Budget + Fiscal
In 2009, the federal debt by fiscal year reached 10.9 trillion USD. At the turn of the century, this debt was 5.67 Trillion.
http://www.ncpa.org/pdfs/st322.pdf -
Savings Rate - Savings + Result
In late 2012, the average savings rate of people under the age of 35 dropped below zero percent. This prevents people from having a financial cushion in case of unexpected expenses, and increases the time it takes for people to retire.
http://bipartisanpolicy.org/article/younger-generation-faces-a-savings-deficit/ -
Foreign Trade and Barriers - Trade + Fiscal
In 2014, the US goods trade deficit to China was $342.6 billion. The US wants to export more from China, but there are Chinese barriers blocking this. In order to remove these barriers, the US is taking steps to enforce the rights of the US at the World Trade Organization and try to achieve something each time a discussion is occurring.
http://m6.i.pbase.com/g9/10/152510/2/152953276.6Bn3seS9.jpg
https://ustr.gov/sites/default/files/files/reports/2015/NTE/2015%20NTE%20China.pdf -
Trade Deficits - Trade + Monetary
In 2016, the trade gap in the US widened to 44.5 billion dollars. Since 1976, the US has been running consistent trade deficits due to high imports of oil and consumer products. This has caused an imbalance in the US Balance of Trade.
http://www.tradingeconomics.com/united-states/balance-of-trade -
