Timeline of Fiscal and Monetary Policies from 2007-2014

By timeline_group

  • The Passing of TARP

    linkCongress passed Treasury Asset Relief Program (TARP). This act gave money to programs that worked to stabilize banking institutions, restart the credit market, and stabilize the US auto industry. TARP also funded programs that helped struggling families avoid foreclosure.

  • Obama becomes President

    linkBarack
    Obama was officially inaugurated as President of the USA. This ushered in a new era of economic policies
    image:http://www.google.com/search?q=treasury+asset+relief+program&safe=active&rlz=1CASMAD_enUS605&es_sm=122&source=lnms&tbm=isch&sa=X&ei=9EQPVKmNFZKnyAS-tYHwCA&ved=0CAkQ_AUoAg&biw=1280&bih=689#facrc=_&imgdii=_&imgrc=HEeksn72KXLucM%253A%3Bn_Nm

  • Congress Passes Health Reform Bill

    linkThe bill pans insurance companies for discriminating against people with pre existing conditions, and allows Americans who were previously uninsured to have health insurance. Despite the $940 billion cost over the next 10 years, the bill is thought to save $1.3 trillion over the next 20 years.

  • Home Mortgage Debt

    linkHome mortgage debt rose $87.4 billion in the third quarter. This is the first time it has risen in the third quarter since the Great Depression.

  • Stock Price Drop

    linkIn august, there was a sharp fall in the stock prices within the stock exchange in the US, Middle East, Europe and Asia. The sudden drop in stock prices resulted in a large downgrade in the US credit rating. The US credit rating drop from AAA to AA+ as a result.

  • Home Sales Drop

    linkHome sales have plunged over 14.5% in March, an all new eight month low. The pace of the number of units sold was estimated to be about 450,000 units sold by then. The number is only at 384,000 as of march.