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Trade deficit with china
In 2007, US trade deficit decreased after setting a record for 5 consecutive years. It dropped $711.6 billion or 6.2%. This was the first annual decline since 2001.
http://www.cbsnews.com/news/us-trade-deficit-declined-in-2007/ -
US budget deficit by year
During obama’s presidency the national deficit has shrunk by one trillion dollars. Since he took office, the national deficit has decreased by 9.8%.
http://www.msnbc.com/rachel-maddow-show/deficit-shrinks-1-trillion-obama-era -
Savings Deficit
The 2008 recession caused by people using and buying everything on credit. This means that people do not have to pay with cash at the purchase, but rather overtime they would pay off parts of the price. People were careless with their money and forgot how much they were spending. As this was happening, the government was still spending millions of dollars, so overtime the spendings were greater than the savings causing a deficit.
http://cashmoneylife.com/economic-financial-crisis-2008-causes/ -
US international trade
From reading the graph, it is noted that America’s imports have always been higher than its exports. This is the leading factor in trade deficit. Also noted, the Trade Deficit (red) has been active in all the years present. Since 2007, America’s trade deficit was at its minimum in 2009.
http://www.oftwominds.com/blogaug13/trade8-13.html -
sending troops to afghanistan
2009 obama sent troops into the war in afghanistan, this added $59.5 billion to Bush’s FY 2009 budget.
http://useconomy.about.com/od/usfederalbudget/f/War_on_Terror_Facts.htm -
Leadership Deficit
The Leadership deficit, the original deficit, created the 3 other deficits. It is changed by the president signing tax cuts or other programs to help America’s debt. For example, Barack Obama signed 2 tax cuts, one in 2010 and the other in 2012. The tax cut in 2010 was an extension on the Bush-era tax cut. Picture: http://www.upi.com/News_Photos/view/upi/555531a45d616f90cfa12f07b36c46c5/Obama-signs-tax-cut-bill-in-Washington/
