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Trade Deficit
In 2007 the trade deficit declined after setting records for five consecutive years. A decrease of about 711.6 billion or 6.2% set records but still defined the first annual decline since 2001.
http://www.cbsnews.com/news/us-trade-deficit-declined-in-2007/ -
Personal Savings
In 2007 personal savings to decreased to a mere 3% keeping up with the previous two years. Later in 2008 savings would double going up to about 6.5%.
http://www.statista.com/statistics/246234/personal-savings-rate-in-the-united-states/ -
Budget
In 2008 a recession accompanied a credit crunch that showed a massive decrease in demand. Because of this, central banks in the US slashed their standard interest rates.
http://www.economist.com/news/schools-brief/21586527-third-our-series-articles-financial-crisis-looks-unconventional -
Budget
Congress passed a 787 billion dollar fiscal stimulus package in 2009 spread over 10 years. 19 percent of the funds will go toward increases in government spending. 33.4 percent in transfers to the states, and 47.6 percent toward tax cuts.
http://www.frbsf.org/economic-research/publications/economic-letter/2009/june/downturn-fiscal-policy/ -
Leadership
On Feb 17, 2009 the American Recovery and reinvestment act was signed into law by president Obama. As part of it the Recovery Accountability and Transparency Board was formed which has two goals. One, to provide transparency in relation to the use of Recovery related funds. Second, to prevent and detect fraud, waste, and mismanagement.
https://www.federalregister.gov/agencies/recovery-accountability-and-transparency-board -
Leadership
On March 21, 2010, Obama signed Obamacare into law. This further increased government spending
http://obamacarefacts.com/obamacarebill/ -
Leadership
At the end of Obama’s First term 16.4 trillion dollars national debt. -
Leadership
Sept 30, 2015 marks the end of Recovery Accountability and Transparency Board which is one of the most successful large scale effort to track spending.( Earl Devaney- original head)
http://www.usnews.com/opinion/economic-intelligence/2015/09/30/the-good-the-bad-and-the-ugly-from-fiscal-year-2015 -
Budget
United states Debt exceeded 19 trillion dollars which is more than 58 thousand dollars per person. Main reasons remain social security, medicare, medicaid, and obamacare.
