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Subprime Mortgage Crisis 2007-2010
This began when home buyers realized it was hard to get the mortgage if they had below average credit. This was facilitated by rapidly rising home prices. When house prices shot up mortgage finances and selling homes became a less capable means of settling mortgage debt and mortgage loss rates began rising.
Link Monetary policy
Saving deficit -
New York Stock Exchange Falls
News of a drop in the profits of the Citigroup banking that led to a fall on the New York Stock Exchange. On January 21st a fall in share prices occurred in all major world markets, followed by a series of collapses. A number of American and European banks declared massive losses in their 2007 end of the year results.
article link Result of policy
Saving deficit -
Formation of the Balanced Budget Amendment Task Force
An independent “Balanced Budget Amendment Task Force” An is formed to try and convince states to try and create a national convention for a Balanced Budget Amendment.
Link Fiscal policy
Leadership deficit -
Obamacare
Obamacare, or the Affordable Care Act was signed into law. This measure was created with the intent on securing affordable healthcare for all citizens of the US.
Link Fiscal policy
Budget deficit -
Personal Savings Declines
The period before our economic crash had the lowest personal savings rate. Directly after, people started saving again rapidly, but such progress has since declined.
Link Result of policy
Saving deficit -
Obama's Fiscal Year Budget
The president’s 2016 budget is suppose to raise/ strengthen middle class economics. This budget shows what we can do if we invest in America’s future and to an economy that rewards hard work.
Link Fiscal policy
Budget deficit
