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Results of the Subprime Housing Crisis
The Federal Reserve injects $41 billion in temporary reserves into the US money markets.- This happened because the federal treasury voted to cut a key interest rate to compensate for the crashing housing market during this time. To balance out the strain on the recent markets that are struggling. It came in three seperate payments. Budget- Monetary http://www.nbcnews.com/id/21580330/ns/business-stocks_and_economy/t/fed-injects-billion-relieve-credit-crunch/#.VrIqAH0rLnA -
Gas Prices hit record high at $4.11 a gallon
Due to decline in the economy a the time and the recent debate at the time about the extension of the Keystone XL Pipeline- that would include more domestic oil drilling. The new jobs would help the economy get back on its feet. Even though in reality it would not create that many new jobs and could potentially hurt the environment. The President Obama would have the final vote on the subject. Leadership- Result http://www.cbsnews.com/news/face-the-facts-a-fact-check-on-gas-prices/ -
Paul Ryan Budget Plan
Congressman Paul Ryan of Wisconsin made a plan he proposed that would reduce the budgets deficit by 4.4 Trillion. The plan would repeal Obama Care, make drastic changes to Medicare and Medicaid, cut military budget, and make cuts in domestic spending. Budget/ Monetary http://www.examiner.com/article/economic-policy-top-10-events-2011 -
December 15, 2011- The end of the Iraq war.
The war between the U.S. and Iraqi costed about $1.7 trillion with an additional $490 billion owed to veterans. Studies show that the expenses could grow to over $6 trillion over the next 4 decades. Money on medical and disability claims had risen to $134.7 million as well. Fiscal-Budget http://www.reuters.com/article/us-iraq-war-anniversary-idUSBRE92D0PG20130314 -
California passed Proposition 1, in which $7.6 billion bond was on the ballot by the Legislature.
This will fund water supply projects, which would focus on issues like groundwater storage, ecosystem, and restoration and drinking water protection through the state. California has gone three consecutive years as a drought-stricken state. Monetary Policy & Budget Deficit http://www.nbclosangeles.com/news/local/Calif-Voters-Pass-Fiscal-Propositions-1-and-2-281557631.html -
Oakland California changed its minimum wage from $9.00/hr to $12.25/hr.
This appeared on the November 2014 ballot and was passed by almost 85% of Oakland voters, which would now affect 48,000 employees. Employers were told by city officials that any worker who is schedules for more than 2 hours in one shift must be paid no less than the minimum wage. Results & Budget deficit http://www.nbcbayarea.com/news/local/Oakland-Minimum-Wage-Rate-to-Go-Up-Slightly-in-2016-363557441.html
