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Housing Crisis; Deficit: Savings, Monetary
The housing Crisis became evident in 2007 and continued until 2009. The bulk of the effect is Great Moderation coincided with a housing boom, as prices soared (particularly on the two coasts and in cities such as Phoenix and Las Vegas.) Rising home prices led to rampant real estate speculation, and also fueled excessive consumer spending as people began to view their homes as a "piggy bank".[http://www.investopedia.com/features/crashes/crashes9.asp]
[https://www.youtube.com/watch?v=yuGU1QXRfpU] -
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TARP (Troubled Asset Relief Project); Deficit: Budget, Fiscal
a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.
[https://www.treasury.gov/initiatives/financial-stability/TARP-Programs/Pages/default.aspx] -
Video for Auto Industry Bailout
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Auto Industry Bailout; Deficit: Budget/leadership, Monetary
In November 2008, the Big 3 automakers asked Congress for $50 billion to avoid bankruptcy and the loss of three million jobs. Congress initially refused, saying the automakers needed to fine tune their request. Congress was willing to redirect a $25 billion loan program tied to the development of energy efficient vehicles. The automakers asked for an additional $25 billion to come out of the TARP fund.
[https://www.thebalance.com/auto-industry-bailout-gm-ford-chrysler-3305670] -
American Recovery and Reinvestment Act; Deficit: Leadership, Fiscal
Obama signed this act into law to help make sure everyone has affordable health care in America. This created taxes to be higher so that all American’s, poor or rich, would be able to have health care. There still remains troublesome region patterns without health care. http://obamacarefacts.com/obamacare-pros-and-cons/ -
Government Shutdown Picture
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Government Shutdown; Deficit: Budget, Fiscal
Because of a lack of a budget and Congress not willing to raise the debt ceiling to pay government employees the government was forced to shut down. The not vital aspects of Government were shut down for two weeks. This caused a detrimental effect to some 800,000 employees who were out of a job and it hurt tourism industries near public parks which were also shut down.
[http://abcnews.go.com/Politics/heres-happened-time-government-shut/story?id=26997023] -
Election of Donald Trump; Deficit: Leadership, Fiscal
This major event in U.S History had huge effects on certain aspects of the economy most notably the stock market. The reason why the stock market jumped was because Trump has promised a pro business adminstration. Trump victory as lately as January 25 2017 the dow jones went up to a record 20,000 points economists say this record was due to Trump’s plan to withdraw from TPP and reducing business regulation. -
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TARP Picture
