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Major Economic Events (2007-Present)
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Freezing of Mortgage Rates by President Bush
Bush Mortgage President Bush announces a plan to temporarily freeze the mortgage rates of a limited number of mortgage debtors holding adjustable rate mortgages. This event is held under the leadership category due to it being President Bush whom is the primary initiator of said economic plan. -
GM Files for Bankruptcy
GM Crash The company General Motors failed and had to file for bankruptcy. Their failure was in correlation to their lack of competetive vehicles. GM's competition and failure to innovate resulted in their bankruptcy. This event falls under a budget deficiency because they failed to manage their budget wisely and produce the necessary changes within their company inorder to maintain a steady budget. -
Obama Signs Jobless Benefits
Unemployment BenefitsObama signs an extension of jobless benefits for anyone who has been out of work for 6 months or more. This move ended an interruption that cut off payments averaging about $300 a week to 2.5 million people who have been unable to find work in the aftermath of the nation's long and deep recession. This event deals with leadership of our nation due to the fact that president Obama signed the extension for jobless benefits. -
Free-Trade Agreements
U.S- Korea Free Trade Agreement Obama signs free-trade agreements with South Korea, Colombia, and Panama. The administration says these agreements will support tens of thousands of American jobs.This action falls under the trade category due to opening new trade opportunities for the U.S. with other countries. -
Cap-and-Trade
Cap-and-Trade:Emission Reductions at a Low Cost California's cap-and-trade program is launched. This program adopts and implementsdirect measures to reduce carbon emissions and protect public health. As a way to help decrease polution this deficit fits most within the category of budget due to the way that California is trying to budget the amount of carbon emissions withing their state. -
Creation of MyRA
MyRA: My Retirement Account President Obama signs a presidential memorandum called MyRA, short for My Retirement Account. MyRA would be categorized under a savings deficit do to being a federally-backed savings account program for low and middle income wage earners.
