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Credit Card Interest Rate -- Image
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Credit Card Interest Rates
The data is drawn from several sources, including the Federal Reserve and Bureau of Labor Statistics. 2011 numbers represent NerdWallet estimates, based on numbers through December 1, 2011. Credit card interest rates are a simple average of all reported credit card interest rates, rather than the weighted average based on accounts that are actually open. Credit card interest rates exclude “revolving” users, who do not typically carry a balance or incur any interest expenses. The chart was last u -
Barack Obama Becomes President -- Image
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Barack Obama Becomes President
President Obama becomes president, which changes leadership roles and changes the economy. With his election comes new regulations and rules. President changes attribute to the leadership deficit, and when President Obama became president, our economy changed a lot. This is a fiscal policy. -
Senate Passes Financial Regulation Bill
The Senate passes the Financial Regulation Bill to create a new consumer-protection plan at the Federal Reserve that would prevent abuse in mortgage, auto, and credit card lending. This bill also gave the government power to wind down large failing financial firms and set up a council of federal overseers to police the financial landscape for risks to the global economy. -
Retiremnet Savings Not Where It Should Be
The difference between what Americans had saved for retirement and what they should have saved was $6.6 trillion, and half the population had under $10,000 in savings (according to a study done by the Senate Health, Education, Labor and Pensions Committee). The Committee Chairman, Harkin, proposed a private retirement plan that would make it easier for employers to offer retirement plans without additional risks. This is a fiscal policy. -
Federal Budget Deficit Falls to Lowest Point
The federal budget deficit fell to its lowest point since 2008. It fell from $1.1 trillion to $680 billion, and was the sharpest drop since the end of WWII. A growth in tax revenue from the improving economy aided with this decline. This is a result of a fiscal and monetary policy. -
Obamacare Estimated to Lower Budget Deficit
Obamacare was estimated to lower the government’s long-term budget deficit from $680 billion to $506 billion. The Affordable Care Act has found direct savings in Medicare and has tried to achieve long-term savings by encouraging hospitals to reduce readmission and sending out payment systems to promote more holistic care. This is a fiscal policy. -
Trade Deficit Drops
The U.S. trade deficit in January dropped immensely as both exports and imports fell. The Commerce Department stated that the deficit fell 8.3% to $41.8 billion in January from $45.6 billion in December. The shrinking trade gap also reflected a drop in exports, which fell $5.6 billion to $189.4 billion. Imports fell $9.4 billion to $231.1 billion. This is a result of a fiscal and monetary policy.
