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US Stimulas Package
On February 13, 2009 President Barack Obama and Congress passed the American Recovery and Reinvestment Act of 2009. The purpose was to help get the economy in motion and it also gave many Americnas tax breaks. http://www.recovery.gov/arra/About/Pages/The_Act.aspx -
Rasing the Debt Limit
On August 2 2011, Presidnet Barack Obama had signed a law that had raised the US national debt limit to $14,3 trillion dollars. It ended months of stalling between the White House and Congress. http://abcnews.go.com/Business/national-debt/story?id=17159803#6 -
American Taxpayer Relief Act of 2012
In 2012, the American Taxpayer Relief Act of 2012 was enacted which many Americans dont have to pay the aleternative minimum tax. Over 30 million tax payers did not have to pay the aleternative minimum tax because of the act. http://www.forbes.com/sites/beltway/2013/01/18/how-the-new-tax-act-affects-the-alternative-minimum-tax/ -
Debt grows larger than economy.
In 2012, the US National Debt had exceeded the Gross Domestic Product(GDP) by over 500 billion dollars. The US National Debt was $15.23 trillion and the GDP was $15.18 trillion dollars. http://moneymorning.com/2012/01/09/how-the-u-s-national-debt-could-drain-your-savings/ -
US Government Shuts Down
In October of 2013, The United States Government had shut down becasue a budget agreement could not be reached. Because of this shutdown over 800,00 government employees were not able to go to work. http://www.cnn.com/2013/09/30/politics/government-shutdown-up-to-speed/ -
Presidential Spending
In 2013, President Barack Obama spent an estimated total of 3.72 trillion dollars. This is the highest amount of money that he has spent in his presidential term. http://www.washingtonpost.com/blogs/fact-checker/post/the-facts-about-the-growth-of-spending-under-obama/2012/05/24/gJQAIJh6nU_blog.html -
US Oil Prices Drop
The price for a barrel of oil has dropped to less than $100, which is less than what it has been in the past years. A gallon of gas now averages to cost $2.50, and at the end of last year the price was $3.70 http://www.nytimes.com/interactive/2015/business/energy-environment/oil-prices.html?_r=1 -
Importing more than Exporting.
This year the United States has been imported an estimated about $239.2 billion versus $187.8 billion in exports. This is a 43% increase since the highest total in 2008.
