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Decrease In Demand
In 2008 a recession accompanied a credit crunch that showed a massive decrease in demand. Because of this, central banks in the U.S. slashed their standard interest rates.
Deficit Area: Budget
Monetary Policy
http://www.economist.com/news/schools-brief/21586527-third-our-series-articles-financial-crisis-looks-unconventional -
Recovery Accountability and Transparency Board
On February 17, 2009 the American Recovery and Reinvestment Act was signed by Obama. It’s goal was to “provide transparency in relations to the use of Recovery related funds and to prevent and detect fraud waste and mismanagement.”
Deficit Area: Leadership
Fiscal Policy
https://www.federalregister.gov/agencies/recovery-accountability-and-transparency-board -
The Affordable Care Act
The Affordable Care Act made health insurance more affordable and more open for everyone. It guaranteed more choice in decisions and and increased the quality of care for Americans.
Fiscal Policy
Deficit Area: Leadership
https://www.medicaid.gov/affordable-care-act/index.html -
Shifting Our Retirement Into Automatic
The Obama administration proposed a solution to the retirement issue in 2013 in order to provide enough money for retirement automatic I.R.A. It’s designed to help people save for retirement and offer tax advantages. More than 4 million people were using the program and it increased the annual savings by 7 billion a year.
Deficit Area: Savings
Fiscal Policy
http://www.nytimes.com/2013/04/07/business/an-automatic-solution-for-the-retirement-savings-problem.html -
United States trade deficit with China
The trade deficit with China in 2015 was at $367 billion and kept growing because the U.S. imported more goods than they exported by a significant amount. Another cause to the deficit also includes a lower standard of living in China, allowing companies to pay lower wages to workers, meaning that the U.S. can compete with the low costs of China.
Deficit Area: Trade
Result
https://www.thebalance.com/u-s-china-trade-deficit-causes-effects-and-solutions-3306277 -
U.S. and Canada Trade
Canada is the United States’ second largest goods trading partner and in 2015 the goods and services totaled $662.7 billion. Imports totaled $325.4 billion, while the exports totaled $337.3 billion giving the U.S. a surplus of $11.9 billion in 2015.
Deficit Area: Trade
Result
https://ustr.gov/countries-regions/americas/canada
