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After the election of 2007, At the beginning of 2008, Barack Obama is inaugurated as the new president, beginning a new democratic era of leadership and new ideas.
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The deficit had grown by $776.51 billion from January to June. The administration expects the fiscal 2009 deficit to reach $1.75 trillion, which is about 12.3% of the GDP. The ambition with healthcare programs, improving education, and fighting climate change might be too much.
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According to government data the trade deficit continued to move into the red. The trade balance went from $45.5 billion to $48.2 billion all due to the rise of oil prices and the amount of the US dollar being weak. With the weak dollar it limits the US purchasing power in the worldmarket place.
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Barack Obama has made a government wide strategy to promote exports. He is trying to strengthen America’s economy by doing this. He is calling this the The National Export Initiative (NEI).
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By postponing opening up a savings account, people will accumulate less money. Americans should take retirement more seriously by saving earlier in life and plan for their future.
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The annual deficit has continued on a downward spiral since 2009, this is caused by the slower-than-expected growth and lower-than-expected revenue that has come into the government. As of 2016 the percentage of GDP has increased to 3.2% and the government is predicting it will hit 4.6% by the end of the decade
