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Oil Spill Helps Economy
Budget Deficit JP Morgan Chase figured out that the clean up for the oil spill actually helped the economy in 2012. BP spent $6 billion to hire 4,000 people to clean up the spill that year. This contributed more than the $700 million lost in fishing and tourism revenues and the 3,000 jobs lost to the six-month deep-water drilling postponment.This is a result policy. -
Oil and Trade
Trade Deficit U.S. spending on imports surpassed U.S. export earnings by $7.1 trillion dollars. Petroleum trade have been affecting the trade deficit between U.S. imports and exports the most. Because of oil beginning to become more important in the trade industry, trade deficit in oil was equal to 55% of the overall trade deficit (around $2.87 trillion). This is a result policy. -
Defense of Marriage Act Ruled Unconstitutional
Budget Deficit - Good The Obama Administration determines that the Defense of Marriage Act is unconstitutional. The Justice Department will stop defending the law in court. This is a budget policy. -
GDP Drops 2.9%
Leadership Deficit The latest data shows the U.S. economy contracted significantly more than previously estimated in the first quarter of this year. Bureau of Economic Analysis released its third and final estimate of real GDP for the first three months of 2014. This is a result policy. -
China Stock Market Crash
Savings Deficit China has a stock market crash. This made US stock weaker and made the dollar have less value. This is a result of both fiscal and monetary policies. -
More Social Security Spending
Budget Dfeicit
The federal budget deficit widened in this month because of spending more money on areas like Social Security, Medicare, and defense. It climbed 13.6% (64.6 billion) from 2014. This is a fiscal policy.
