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The government spent a total of 2.9 trillion dollars
The previous year, the government spent 2.8 trillion, which is almost the same. The year following 2008, the government spent 1.4 trillion cutting the budget nearly in half. https://www.whitehouse.gov/sites/default/files/omb/budget/fy2008/pdf/hist.pdf -
President Obama is sworn into office
The former Illinois Senator, Obama’s main economic goal was to create jobs. In his campaign, he talked about a four-part “economic rescue plan” for the middle class. http://www.cnn.com/2008/POLITICS/10/13/campaign.wrap -
Total budget deficit was 1.4 trillion
In 2009 the national budget deficit was at the highest it’s been at in over 70 years. This was a $960 billion bigger deficit than the previous year. https://www.cbo.gov/publication/24992 -
The trade deficit was $558 billion
The deficit raised in part because of increased imports of crude oil and petroleum products. Three-fourths of the rise in the non-oil goods deficit is owed to China. The American deficit to China raised 8.2% from 2010. http://www.epi.org/publication/trade-deficit-2011-china-accounted-fourths/ -
Americans saved 4% of theire after-tax income
Wages have barely risen for most Americans since 2000. 60% of people have less than $25,000 in savings. http://www.thefiscaltimes.com/2015/04/26/Americans-Low-Savings-Rate-Bad-Sign-Good-Economy -
Trade deficit jumped 43.1 percent to $51.4 billion
The deficit on the trade balance jumped 43.1 percent to $51.4 billion, the largest since October 2008. The percent rise also was the biggest since December 1996. http://www.cnbc.com/2015/05/05/us-international-trade-gap-at-$51.37-billion-in-mar-vs.-$41.30-billion-expected.html
