-
Tax Relief and Health Care Act of 2006
It Involved a bundle of certain extensions on tax credits. Also, it gave people a one time rollover of their health reimbursement accounts. This act helped later on in 2007. Savings
Fiscal http://www.taxpolicycenter.org/laws-proposals/major-enacted-tax-legislation-2000-2009
Event 5 -
The Wall Street Crash
https://www.thebalance.com/how-the-stock-market-affects-small-business-393401 In September 2008, our economy was in worse shape than we knew. Then wall street came down very fast, it became impossible to get loans, and the DJIA closed. Deficit Area: Budget
Monetary Policy Video: https://www.youtube.com/watch?v=6yDJHPQjeV4 -
Financial Crisis of 2008
The financial crisis started with mortgage dealers who issued mortgages with terms that were way out of people's budget. This eventually took out countrywide financial corporation which was the largest american mortgage lender at this time. Link text https://www.britannica.com/topic/Financial-Crisis-of-2008-The-1484264 Budget
Fiscal Policy -
Bernard Madoff Scandal
Bernard Madoff was the chairman of the NASDAQ stock exchange. He operated the largest Ponzi scheme in U.S. history and pled guilty to defrauding investors. He lost over $50 billion of his investors’ money. Deficit Area: Savings
Monetary Policy
https://www.thebalance.com/bernard-madoff-and-his-ponzi-scheme-393095 -
Affordable Care Act
The affordable care act makes health insurance more affordable to people who can’t afford health insurance. This is by subsidizing the lower cost for certain households with certain incomes. Deficit Area: Leadership (passed by Obama)
Fiscal Policy https://www.healthcare.gov/glossary/affordable-care-act/ Video:
https://www.youtube.com/watch?v=vju70I6qSKk -
Trade Deficit
The total U.S. trade deficit was $531.5 billion in 2015. Cars and consumer products are a main cause of the deficit. America’s petroleum imports are falling and we are becoming less reliant on foreign oil.
Deficit Area: Trade
Result https://www.thebalance.com/u-s-trade-deficit-causes-effects-trade-partners-3306276
