Economy Timeline

By Turco.Alexandra

  • Budget Deficit

    Budget Deficit
    During the mid to early 2000s federal deficits were declining coming out of the 2000-2002 recession. But the late 2006 recession drove the federal deficit up substantially. By 2009 the federal deficit had been driven up by 700 billion USD. The deficit did not go below one trillion USD until 2013. Each year the federal debt increases by more than its deficit. This would be considered fiscal. http://www.usgovernmentspending.com/federal_deficit_chart.html

  • Affordable Care Act

    Affordable Care Act
    The Affordable Care Act is a law implemented by Barack Obama that provides medicaid coverage to many low income Americans. This article talked about how since 2010, the percent of uninsured people has dropped by 25% and majority of people are able to be insured under the law. The government also believes that this plan has helped all around helped the health care economy. This is considered fiscal. http://www.nytimes.com/interactive/2014/10/27/us/is-the-affordable-care-act-working.html?_r=0#/

  • Medicare

    Medicare
    Due to The Affordable Care Act in 2010, in 2011 3.6 million people saved $2.1 billion on their prescription drugs due to this act. In 2010 this Act made it prohibited for insurance companies to deny or charge more for coverage based on anyone’s health. This was extremely beneficial for the elderly since this directly relates to them. This would be considered fiscal. https://www.cms.gov/About-CMS/Agency-Information/History/Downloads/Medicare-and-Medicaid-Milestones-1937-2015.pdf

  • Personal Savings Rate

    Personal Savings Rate
    Due to gas prices and heating bills getting more expensive in 2013 personal savings rates were cut in half,which was the biggest decline in over 20 years.This bump up in income made the personal savings rates nearly split in half within the next month of January 2013. Incomes are increasing around 2% just enough to cover the growth of the GDP. This would be considered monetary. http://soberlook.com/2013/03/what-caused-temporary-spike-in-personal.html

  • Trade Barrier

    Trade Barrier
    In 2014, the US increased in the amount of exports going out to other countries. A major hope for the US was to get China to drop its trade barriers in order for the US to benefit more. The issue with this is that the US currently imports much more than we actually do export, leaving the US to deal with issues in trade barriers. This event would be considered fiscal. https://ustr.gov/sites/default/files/files/reports/2015/NTE/2015%20NTE%20China.pdf

  • Trade Deficit

    Trade Deficit
    In February, the trade deficit is at $47.1 billion, the highest its been in six months. The reason it increased was because of its overseas imports were increased. The gain in exports makes the U.S. products seem less attractive. Trade barriers would be considered a monetary policy. http://www.bloomberg.com/news/articles/2016-04-05/u-s-trade-deficit-rises-to-a-six-month-high-of-47-1-billion