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Housing Bubble Bursts
The “housing bubble bursts” setting in motion the subprime mortgage crisis and the Great Recession. (budget)
http://www.american.com/archive/2008/may-june-magazine-contents/your-guide-to-the-housing-crisis
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Troubled Asset Relief Program (leadership)
George W Bush passes the Troubled Asset Relief Program to purchase assets and equity from failing institutions. (beneficiaries include Chrysler and General Motors)
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/
http://www.politico.com/news/stories/1210/46019.html -
NAFTA (trade)
North American Free Trade agreement came into action. Eliminated most tariffs on goods traded among the United States, Mexico and Canada.
http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta -
American Recovery and Reinvestment Act (savings)
Barack Obama and Congress pass the American Recovery and Reinvestment Act, providing tax cuts and federal funds to create new jobs, save existing jobs and spur economic growth. http://www.dot.state.oh.us/Divisions/Operations/Traffic/miscellaneous/Pages/ARRAsigning.aspx
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Banks Fail (Budget)
Dow Jones industrial average hits 12-year low and 140 banks fail.
http://www.bankrate.com/finance/federal-reserve/timeline-100-years-federal-reserve.aspx -
Health Care Reform Bill (leadership)
Congress passed the Health Care Reform Bill, aimed at providing affordable, quality healthcare for all Americans.
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/
http://voices.washingtonpost.com/ezra-klein/2010/03/what_does_the_health-care_refo.html -
Ceiling Crisis (Budget)
Ceiling Crisis. Bill passed authorizing an Increase in the U.S. Debt
http://fox13now.com/2013/10/16/u-s-faces-debt-ceiling-crash-at-stroke-of-midnight/
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
decrease in Domestic Prodect (Budget)
Huge decrease in Gross Domestic Product
https://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm