-
Housing Crisis
In 2008, A financial crisis led to the worst recession since the Great Depression. Housing prices fell 31.8% as a result of the recession. Even two years after the recession ended, unemployment was still above 9%
*Budget Deficit -
Obama elected as 44th President
Nov. 4th, 2008 Barack Obama was elected as the 44th President of the United States. He was the first african american president elected, and defeated his Republican opponent, John McCain. He won the popular vote 53% to 45%.
*leadership deficit
http://images.politico.com/global/2012/04/120419_obama_2008_605_ap.jpg -
Unemployment Benefits Grow
In 2010, the unemployment rate was 9.8%. Instead of creating more jobs, Obama and the democrats called for another extension of unemployment benefits. The economy needed more jobs, not more unemployment benefits.
*Leadership deficit
http://foxnewsinsider.com/sites/foxnewsinsider.com/files/styles/780/public/010714_obamapart1.jpg?itok=RlIKhIXa -
No Retirement Funds
As of 2010, 45% or 38 million working age adults had no retirement funds saved. Thus, they will be unable to retire with any sort of financial security
*Savings Deficit
http://blogs-images.forbes.com/johnwasik/files/2014/02/6870886851_76c9703cca_b.jpg -
Imports outweigh exports
In 2012, the United States was the largest trading nation in the world, however the void between imports and exports was unimpressive. In 2012, the United States imported $2.74 trillion dollars worth of goods, however they only managed to export $2.2 trillion. That leaves a half trillion dollar yet to be accounted for in debt
*Trade deficit
http://sundaytimes.lk/111218/images/Econ-Cartoon.jpg
*Trade Deficit -
76% of Americans are Living Paycheck to Paycheck
As of June 24, 2013 76% of Americans live paycheck to paycheck. Their paychecks do not meet their financial needs and they are unable to set aside any substantial amount of money.
*Savings Deficit
http://static.guim.co.uk/sys-images/Admin/BkFill/Default_image_group/2010/2/19/1266600399146/A-broken-piggy-bank-001.jpg -
Trade Deficit Decreases
July 2014 trade deficit decreased from $40.8 billion to $40.5 billion dollars. This was because both exports and imports increased.
*Trade Deficit -
Government Shut Down
October 1-16, The senate would not pass a bill that involved the affordable care act with hopes to delay it. As a result, the two legislative houses did not pass a compromise bill by the end of the 2013 fiscal year. This caused the federal government to shut down due to the lack of funds at the beginning of the 2014 fiscal year.
*Budget Deficit
http://t3.gstatic.com/images?q=tbn:ANd9GcSXHqZVOkuRjElv4WAckhfWC4-sHKpTXIYvy8LE8SuzGkApdmZdXg
