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2008 Economic Crash
The Dow Jones dropped a significant amount of points within the stock market on september 29th. This was due to congress not signing the bank bailout bill. Also, people were buying houses that they could not actually afford- creating a huge economic disaster throughout the united states. The deficit area was the budget and this was a part of fiscal policy. -
The American Recovery and Reinvestment Act
Obama created a $787 billion plan to stimulate consumer spending and save over 2.3 million jobs. This created a boost in economic growth, but it lead to even more debt within the United States. The deficit area was budget and leadership and this was a part of fiscal policy. -
Affordable Care Act
President Obama signed the Affordable Care Act into law guaranteeing cheap government healthcare for all Americans. However, primarily low-income citizens were the ones to sign up so the premiums rose consistently. This was a budget deficit area and a part of fiscal policy. -
Sequestration of 2013
Congress created an artificial fiscal cliff in which they needed to cut spending by 110 billion dollars and create a balanced budget. Congress assembled a super committee for the task, but they failed to pass a balanced budget. A sequester, or automatic spending cuts, was put in place to slash our military and non-military spending. The deficit area was budget and this was a fiscal policy.
