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Budget Crisis forces a government shutdown
The United States federal government shutdowns of 1995 and 1995–96 were the result of conflicts between Democratic President Bill Clinton and the Republican Congress over funding for education, the environment, and public health in the 1996 federal budget -
Enron Scandal
Enron and Arthur Anderson are caught in a huge corporate fraud scandal leading to the bankruptcy of Enron, the largest energy supplier at the time causing thousands of people to lose jobs, savings, and stocks in Enron -
War on Terror
President Bush declares a war on terrorism leading to US troops in the Middle East increasing military spending heavily -
Economic Growth and Tax Relief Reconciliation Act
institutes the smallest tax cut in U.S. history. -
9/11
Terrorists hijack four planes crashing them into the World Trade Center and Pentagon sharply causing global and US sock markets to fall -
Stcok Market Crash of 2002
The downturn in the stock market in 2002, also known as stock market crash or internet bubble bursting, saw a drastic drop in stock prices across the US, Canada, Asia and Europe -
US begins to outsource jobs to India and China
Due to the development of both countries, US companies begin to outsource more cheap labor jobs to these countries -
Hurricane Katrina
Hurricane Katrina makes landfall causing 125 billion in damages, the most by a hurricane in US history -
The Housing Crises
he immediate cause of the crisis was the bursting of the United States housing bubble which peaked in approximately 2005–2006. However, once interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., borrowers were unable to refinance. -
Bernard Madoff Ponzi Scheme
Bernard Madoff, the former NASDAQ Chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate Ponzi scheme. -
The US Recession begins
2008 Recession—in the United States and Western Europe has been linked to the so-called “subprime mortgage crisis.” Subprime mortgages are home loans granted to borrowers with poor credit histories -
Obama defeats McCain
Obama beats McCain leading to the many financial impacts Obama helped with -
Obama gains Congressional approvla for a $787 Billion stimulus package
the largest stimulus package since President Dwight D. Eisenhower -
Deepwater Horizon oil rig explodes
an offshore oil drilling rig, the Deepwater Horizon, exploded and burned off the coast of Louisiana in the Gulf of Mexico causing billions in oil losses and water damage -
Congress makes ddeal to prevent national default
Congress makes an 11th-hour deal to prevent a national default. The deal raises the debt ceiling in two steps to $2.4 trillion and cuts an initial $1 trillion in spending over ten years -
Hurricane Sandy
Hurrican Sandy makes landfall in New Jersey causing 82 billion in damages -
Donald Trump is elected
Donald Trump defeats HIlliary Clinton in election -
Hurricane Sandy
Hurricane Harvey hits Houston causing 125 Billion in damages