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In the last three months of 2008, the GDP fell 3.8%. This is the biggest decline in 26 years. (Budget Deficit)
https://www.youtube.com/watch?v=Ln6VGCB8f_c -
Obama is inaugurated. George W Bush is now out of office. (Leadership deficit)
Picture Link:
http://dailysignal.com/2012/01/01/chart-of-the-week-u-s-presidents-ranked-by-budget-deficits/ -
Obama passes the Affordable Care Act, which helps spread health care to low income citizens. It combined many acts into one. (Budget Deficit)
Picture Link
http://www.boostlabs.com/portfolio-item/white-house-initiative-aapi-affordable-care-act-infographic/ -
The US trade deficit was $497.8 billion. In 2010, imports of capital and industrial goods were up 25% from the previous year which is good for the US economy by giving businesses the confidence to invest and also creating new jobs. (Trade Deficit)
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In the year 2012, the CPI rose 1.7% (it rose 3% in 2011). The energy index increased .5%, the gasoline index rose 1.7% and the index for food rose 1.8%. All of these things helped increase the CPI in 2012. (Budget Deficit)
Picture Link
http://www.bls.gov/opub/ted/2013/ted_20130117.htm -
The NIRS report showed that American families are between $6.8-14 trillion short of recommended retirement savings marks. Most have saved less than thier annual income. (Savings Deficit)
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The federal government's annual deficit is $680 billion, which is the lowest since 2008. The highest was in 2009 at $1.4 trillion. (Budget Deficit)
Picture Link: http://money.cnn.com/2013/10/30/news/economy/deficit-2013-treasury/ -
Budget deficit will fall to $492 billion and the GDP will be 2.8 % of the economy. The GDP average for the last 40 years has been 3.1%.