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Housing Bubble bursts
Budget Deficit
Budget deficit: 2007 (result): “Housing bubble” bursts, causing the financial crisis and the great recession. In the summer of 2007, the credit markets froze, which was the beginning of a speedy decline. -
Congress passes bills
Leadership Deficit
Leadership Deficit: 2010 (fiscal): Congress passed two bills: financial regulation bill and health care reform bill. The financial regulation bill is meant to prevent risky behavior and regulatory failures that contributed to the financial crisis. The health care reform bill was aimed at providing affordable, quality healthcare to all US citizens. -
2012 Budget Deficit
Budget Deficit
Budget Deficit: 2012 (result): For the 2012 fiscal year the budget deficit was $1.1 trillion dollars, which is 7% of the GDP. This was the fourth year in a row that the budget deficit was above $1 trillion dollars, but is consistently decreasing each year. -
Low Federal Deficit
Low Federal Deficit
Budget Deficit: Oct 15, 2015 (fiscal): The United States federal deficit was the lowest it had been since 2007 for the 2015 fiscal year. Even though federal spending was up, the rise in tax revenue rose even more. The 2015 deficit was down 9% from 2014 and the money that came into the federal government was up 8% percent from last year. -
Trade Gap
Trade Gap
Trade Deficit: 2016 (result): The trade gap fell 5%, from $44.6 billion to $42.4 billion since October. In November the imports of goods dropped 2% to $183.5 billion, the lowest since February 2011. -
Pennies and Nickles - Savings Deficit
Savings Deficit
2016 (monetary): Pennies and nickels cost more to make than they're worth - it takes about 1.7 cents to make a penny and 8 cents to make a nickel, but the government is trying to change that. They're looking into how it is made. The government thinks they could save $39 million, but it would cost business $2.4-$10 billion to modify coin machines.
