Decreasing National Debt

By ACTconsumer

  • Start of Reccession

    Start of Reccession

  • President Bush signs the Economic Stimulus Act of 2008 into law.

    President Bush signs the Economic Stimulus Act of 2008 into law.
    Leadership

  • US Treasury bails out banks

    US Treasury bails out banks
    $33.5 billion in preffered stocks in 21 US banks under the Capital Purchase Program.

  • General Motors Bailed Out

    General Motors Bailed Out
    Executives of Ford, General Motors, and Chrysler testify before Congress, requesting access to the TARP for federal loans.

  • Fed buys mortgages, from fannie may and freddie mac

    Fed buys mortgages, from fannie may and freddie mac
    The Federal Reserve Bank of New York begins purchasing fixed-rate mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae under a program first announced on November 25, 2008.

  • Obama signs ¨American recovery and reinvestment act¨

    Obama signs ¨American recovery and reinvestment act¨
    Includes variety of spending measures and tax cuts intended to promote economic recovery.

  • National debt eclipses GDP

    National debt eclipses GDP
    for only the third time in our national history our national debt eclipsed our national gdp

  • Unemployment falls below 8 percent, lowest point since January 09.

    Unemployment falls below 8 percent, lowest point since January 09.