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Gas hits a record price of $4.114 per gallon
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when the US government allowed the investment bank Lehman Brothers to go bankrupt.
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On September 18, 2008, Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke asked Congress for the largest bailout package since the Great Depression. By October 3, the Senate passed the $700 billion bailout bill, now known as the TARP program. The program was initially designed to purchase toxic mortgages from banks, freeing up cash for more loans. However, it was taking too long to implement, so on October 14, the Treasury used $350 billion f
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President Obama announces The Homeowner Affordability and Stability Plan
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The main purpose of President Barack Obama's $787 billion Economic Stimulus package was to prevent the re-emergence of the panic that gripped investors in 2008. It was to be spent over three years. It has been criticized for not fixing the economy fast enough. By July 2009, over $179 billion was allocated to Federal agencies. It was only supposed to spend $185 billion in 2009. It was designed to increase GDP growth by 1.4%-3.8% by the end of 2009, and prevent 2.3 mi
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The Homeowner Affordability and Stability Plan is a 75 billion dollar program to help 9 million people avoid forclosure
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Obamacare (universal healthcare) was put into place by president Obama
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The republicans shut down the government from October 1-16 because they didn't want Obamacare to be enacted.
