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Poor Pay Less
Poor Pay Less In the Great Recession of 2007-09 the share of federal income tax paid by the lower half has continued to decline. Income of the lower half declined to 7.40 percent of GDP in 2009 and federal income tax share declined to 2.25 percent of total collections. Meaning that the lowered income of the lower half resulted in the decline on the federal income tax. This is regarding the budget and falls into Fiscal policy. -
ObamaCare
ObamaCare
The official name for “ObamaCare” is the Affordable Care Act (ACA) for short. The ACA was signed into law to reform the healthcare industry by President Barack Obama on March 23, 2010. ObamaCare’s goal is to give more Americans access to affordable, quality health insurance and to reduce the growth in U.S. health care spending. This is a combination of leadership and budget and falls into fiscal policy. -
Oil Spill
Oil Spill
April 20, 2010, A deepwater oil rig in the Gulf of Mexico exploded, revealing that a BP pipe had been leaking oil and gas into the Gulf. Approximately 3.19 million barrels of oil had leaked over the span of 87 days. Because of this, President Obama announced that his administration would create a $20 billion spill response fund. This event is a budget deficit, and is part of Fiscal Policy. -
Hunt for Bin Laden
Bin Laden
killed May 2, 2011, Abbottabad, Pakistan. Over the span of 15 years, it cost $3 trillion. He cost America more than any other national enemy, even Hitler. The United States sent in Seal Team Six to hunt him down. Because the President made this order, this even would fall under “leadership” and qualify as fiscal policy. -
Gas Prices
Oil
The price of barrel oil has fallen over 70% since June of 2014, and is said to be due to the economics of supply and demand. As major producers like Saudi Arabia continue to pump oil in large quantity, the demand has decreased, resulting in the drop of prices. This is a Trade deficit, and is monetary. -
Leadership Deficit
ISIS
So far, data has cited more than $600 billion in defense spending, saying only $5.5 billion has gone to fighting ISIS and around $42 billion has gone to operations in Afghanistan, much of which is used to fight al-Qaida. In all, they said the government has spent about 7.9 percent of the defense budget on fighting terrorism. This would be considered fiscal
