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Budget: U.S. sends troops into Iraq- Fiscal
According to the article The United States spent about 2 trillion dollars on the Iraq war. The benefits that we still owe the veterans will also continue to put us in debt for years to come. Medical and disability claims for veterans after a decade could be up to 33 billion dollars. The deaths in the war also costed us money as well. Link: http://www.reuters.com/article/us-iraq-war-anniversary-idUSBRE92D0PG20130314 -
Savings: Government takes control of Fannie, Freddie- Monetary
In order to help the failing U.S. housing market and economy the government takes control of the mortgage finance companies Fannie Mae and Freddie Mac. This could prove to be one of the biggest financial bailouts ever. Link: http://www.cnbc.com/id/26590793 -
Savings: Monetary Savings- Monetary
Involves cutting the discount rate and extending term loans to banks in September, by lowering the target for the federal funds rate by 50 basis points. As further warnings of economic weakness appeared over subsequent months, the Committee reduced its target for the federal funds rate by a cumulative 325 basis points which leaves the target at 2 percent. Link: http://www.federalreserve.gov/newsevents/speech/bernanke20120831a.htm -
Budget: The automaker bailout- Fiscal
According to the article, the U.S. Treasury spent about 80 billion to bailout major car makers. This ended up costing tax payers about 9.2 billion dollars. Link: http://useconomy.about.com/od/criticalssues/a/auto_bailout.htm http://useconomy.about.com/od/criticalssues/a/auto_bailout.htm -
Leadership: Key Points in Bill Passed by Congress to Avert US 'Fiscal Cliff'- Fiscal
Congress and Obama postpone $600 billion in automatic tax increases and spending cuts known as the "fiscal cliff." In the meantime, Congress will work on an alternative that is geared more towards a long term change. Link: http://www.cnbc.com/id/100348205 -
Trade: Trade Adjustment Assistance Program- Fiscal
The Trade Adjustment Assistance Program is a federal program that supports workers in search of reemployment. It offers a variety of benefits and services which includes job training, job search, and relocation allowances, income support, and assistance with healthcare premium costs. Link: https://www.doleta.gov/tradeact/factsheet.cfm
