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The Financial Crisis of 2008
A budget deficit This was the biggest financial crisis the U.S, had since the great depression. It threatened the collapse of large financial institutions and the housing market went down as well. Many important businesses in the United States also declined as a result of this. This is an example of a deficit because money is decreasing. -
Election of new president
Obama elected president, Obama is very costly deciding to put air strikes, Obamacare, the Stimulus Plan, and other programs that lost money for our nation, this is an example of budget. This money that has been lost is an example of the budget in our economy. -
Obama's Stimulus Plan is signed into Law
The American Recovery and Reinvestment Act is signed into law, giving extra money to gadge employment, help businesses ect. http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm#2011 -
BP Oil Spill
BP has an accident in Gulf of Mexico and spills oil into the water. Costly to trade, as we could no longer use that oil resource and cleanup costs had to be spent. http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm#2011 -
US joins airstrikes in Lybia
Lybia's uprising and chemical warfare with its rebels causes the US to join in the taking down of Lybia's corrupt government by airstriking it. These airstrikes are costly. http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm#2011 -
JPMorgan Releases 17 Million Workers
JPMorgan releases 17 million workers, putting them out of jobs. WIthout jobs, these people have poorer savings, making them unable to spend their money. http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm#2011 -
Isis Goes Cray
Isis, or ISIL, invades Iraq and takes over Zumar, Sinjar, and Wana. In retaliation, the US begins costly airstrikes on ISIS key members/strongholds, making it costly for America. http://www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm#2011 -
Puerto rico
Thought they have been facing a deficit, they have begun saving and increasing taxes so they can pay off their long held debt. This is an example of saving because the increase of tax makes them save there money to pay off their debts.
