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Beginning of the Great Recession
The government began massive deregulation of the economy, with a “hands off” approach to big business. Implementing what is known as “Trickle Down Economics”. Where the top percentage of people own vast amounts of the economic wealth in the country, than the bottom percentage. In turn these elite spend significantly less money collectively than the rest of the country causing the velocity of money to slow and causing the markets to become volatile, this had been building up to 2007. -
The American Recovery and Reinvestment Act (Obama’s Stimulus Package)
Obama’s stimulus package that sang to the tune of 783 billion dollars, which went to both mainstreet and Wall Street in the form of bank bailouts and mainstreet with funding for things like Medicare, infrastructure, public education etc. It is important to note that Obama used other laws and regulatory bills to actually bailout Wall Street and the banks that largely helped crash the economy much more than he actually helped job growth for the general public -
SubPrime Mortgage Crisis
This was mainly a nationwide banking emergency that contributed to the US. This affected the mortgage industry due to borrowers being approved for loans that they could not afford. http://www.investopedia.com/terms/s/subprime_mortgage.asp -
Obama Care Act/ Affordable Care Act
Provides Americans with better health insurance. Provide insurance for people who struggle with the cost of health care due to pre-existing conditions. -
Signing of the TPP
The TPP was pretty much one of the largest and most expansive “free trade deals” that has had U.S. involvement. It set up an international court system that favored corporations. This was a huge part of why Trump won because Hillary Clinton massively supported this, and Trump used that as one of his main attacks against her. It is important to not that while we had officially signed the TPP, President Trump has recently pulled the U.S. out of the deal, crippling it fataly. -
Trumps Plan for the Economy
He is planning on having double the growth in our economy and having the strongest one in the world. Trump has made many promises to the country on what he plans to do for the economy.
