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The “housing bubble bursts” setting in motion the subprime mortgage crisis and the Great Recession. (budget)
http://www.american.com/archive/2008/may-june-magazine-contents/your-guide-to-the-housing-crisis
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
George W Bush passes the Troubled Asset Relief Program to purchase assets and equity from failing institutions. (beneficiaries include Chrysler and General Motors)
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/
http://www.politico.com/news/stories/1210/46019.html -
North American Free Trade agreement came into action. Eliminated most tariffs on goods traded among the United States, Mexico and Canada.
http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta -
Barack Obama and Congress pass the American Recovery and Reinvestment Act, providing tax cuts and federal funds to create new jobs, save existing jobs and spur economic growth. http://www.dot.state.oh.us/Divisions/Operations/Traffic/miscellaneous/Pages/ARRAsigning.aspx
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Dow Jones industrial average hits 12-year low and 140 banks fail.
http://www.bankrate.com/finance/federal-reserve/timeline-100-years-federal-reserve.aspx -
Congress passed the Health Care Reform Bill, aimed at providing affordable, quality healthcare for all Americans.
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/
http://voices.washingtonpost.com/ezra-klein/2010/03/what_does_the_health-care_refo.html -
Ceiling Crisis. Bill passed authorizing an Increase in the U.S. Debt
http://fox13now.com/2013/10/16/u-s-faces-debt-ceiling-crash-at-stroke-of-midnight/
http://www.learner.org/series/econusa/interactivelabs/economic-timeline/ -
Huge decrease in Gross Domestic Product
https://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm