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Economy Timeline

By bltk

  • War of 1812

    War of 1812
    The US borrowed a lot of money to finance the war. The percentage of GDP was 14%.
    Category: Budget
    URL: http://www.theatlantic.com/business/archive/2012/11/the-long-story-of-us-debt-from-1790-to-2011-in-1-little-chart/265185/

  • World War 1

    World War 1
    Debt increased to $25.5 billion by the end of WWI. It again increased by $17 billion due to Liberty Bonds. Everyone expected a short war and did not properly prepare for the long war it turned into. The debt was 35% of the GDP.
    Category: Leadership/ Savings
    URL: http://www.nber.org/digest/jan05/w10580.html

  • Wall Street Crash/ Great Depression

    Wall Street Crash/ Great Depression
    Beginning on October 29th, 1929, The Wall Street Crash was the most devastating stock market crash in the history of the United States. The Crash signified the start to a 10-year Great Depression that affected all Western industrialized countries. The percentage of GDP was 44%.
    Category: Savings
    URL: http://www.history.com/topics/1929-stock-market-crash

  • World War II

    World War II
    After Nazi Germany’s invasion of Poland, war broke out between the Allies and the Axis Powers. Due to the harsh terms imposed by the Treaty of Versailles and the political and economic instability in Germany, Hitler was able to gain rise along with his Nazi party. This led to the highest percentage of GDP of 122% for the United States.
    Category: Leadership/Budget
    URL: http://www.history.com/topics/world-war-ii

  • Vietnam War

    Vietnam War
    The Vietnam war starts in 1954 and the U.S. spent money and sent soldiers to help South Vietnam fight North Vietnam in 1965. The U.S. slowly backs out after realizing they weren’t winning and North Vietnam is united with South Vietnam as a communist country. Many people at home did not understand why they had to get involved and were furious.
    Category: Leadership
    URL: http://www.history.com/topics/vietnam-war/vietnam-war-history

  • War in the Middle East

    War in the Middle East
    $1.4 trillion was spent on the war in Afghanistan and Iraq. USA got involved to protect the trade of oil in the Middle East while spending a great deal of money was spent to fund the war thus, increasing the deficit.
    Category: Trade
    URL: https://www.youtube.com/watch?v=O_TjBNjc9Bo