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2007-2009 Trade Deficit
The dollar declined 40% against the euro from 2001-2007. This meant that U.S. goods and services were 40% cheaper for Europeans, making U.S. companies more competitive, and increasing exports. The recession offset this advantage, causing global trade to decline: exports dropped from $1.8 trillion in 2008 to $1.5 trillion in 2009, while imports fell from $2.3 trillion in 2007 to $1.6 in 2009. https://www.thebalance.com/u-s-trade-deficit-causes-effects-trade-partners-3306276 -
2007-2009 Leadership Deficit
In the public sector, politicians are encouraged to propose fiscally irresponsible policies-proposing what only sounds like free tax cuts or free public spending-in order to "profit" in their elections. Campaigning on fiscally-responsible tax increases or spending cuts seems like political suicide. In the private sector, business leaders seeking financial profit have been all too willing to lure consumers into getting into an indebtedness that they cannot afford. -
The American Recovery and Reinvestment Act of 2009
After the recession and Obama’s rise to office, in order to pull America out of the recession, his administration came up with the economic stimulus plan which cut taxes and created jobs. To do this, the government used $720 billion was used to reverse the effects of the recession. https://www.thebalance.com/causes-of-economic-recession-3306010 -
Affordable Care Act
The goal is to give more Americans access to affordable, quality health insurance and to reduce the growth in U.S. health care spending. Affordable Care Act, is a United States federal statute enacted by President Barack Obama on March 23, 2010. This is under the leadership and Budget deficit categories because it affects tax and it was created by president Obama. http://obamacarefacts.com/obamacare-facts/ -
The Rise of Alternative Payment Platforms
Credit cards and alternative payment platforms, such as Apple Pay, have made it easier than ever to spend money. Because people are dealing with money that they are not seeing, it makes it more tempting to spend money on wasteful products. http://www.usatoday.com/story/money/personalfinance/2016/10/09/savings-study/91083712/ -
Embargo Lifted in Cuba
The president negotiated with Castro and congress to lift the embargo on cuba. President obama flew to cuba himself to meet with Fidel Castro. He was the first president in 90 years to visit the island. This was a trade Deficit because we were not able to trade with Cuba and therefore we were unable to export more goods. (Fiscal Policy) http://www.usnews.com/news/articles/2016-03-21/obama-castro-call-for-trade-embargo-on-cuba-to-be-lifted
