Did President Obama Take Necessary Steps to Take the United States out of the Great Recession

Retrieved January 22, 2014, from http://www.usinflationcalculator.com/inflation/current-inflation-rates/ What is Quantitative Easing?. (2014, January 14). The economist. Retrieved January 21, 2014, from http://www.economist.com/blogs/economist-explains/2014/01/economist-explains-7

According to USA Today, “Housing crisis deepens. Banks and hedge funds that invested big in sub prime mortgages are left with worthless assets as foreclosures rise. The damage reaches the top echelo... ... middle of paper ... ...ate wealth (GovermentStatSheet). Since then the American political economy has grown, strengthened, and reinforced the future since the learning period of 2008. The great recession is proven to be a point in time when financial funds didn’t exist but the United States government has analyzed and can now predict identical causes and annihilate them before they arise again.

World Bank national accounts data, and OECD National Accounts data files. (2014). GDP (current US$).Available:http://data.worldbank.org/indicator/NY.GDP.MKTP.CD/countries/GB?display=default. Last accessed 3/12/2014. O’Connor, S. (May 29, 2014 2:24 pm).

Business & Economic Review 49.1 (2002): 27. Business Source Premier. Web. 19 Jan. 2014. Stokey, Nancy L., and Sergio Rebelo. "Growth Effects Of Flat-Rate Taxes."

Background information relative to the Great Recession will be followed by a reflection on the pertinent extant literature evaluating fiscal policy measure success. Once an understanding of the issues to be evaluated is known, the problem, purpose, and significance of the study will be discussed. Finally, a detailed discussion on the approach to, and findings of, the study is included. Generally, a recession is an economic decline or a decrease in activity in the economy (BLS, 2012). The recession at the forefront of Americans’ minds is the Great Recession which has been noted to be the lengthiest “since ... ... middle of paper ... ...529.

The financial crisis of 2008 and 2009 is considered by others as the worst financial crisis since the Great depression of 1930. However there were other financial crisis which had happened after the Great depression which were equally disastrous. The one that comes in mind was the financial crisis of the 1980s and early 1990s. It is always overlook by others because of the 2008 credit crunch which happens to be the recent one. It became known as Savings and Loans crisis which basically let to substantial public-funded rescue of an industry that had crumpled and on it knees begging for help.

In early 2008, when the financial crisis began, then the U.S. national debt stood at $9.2 trillion. Figures figure out by the White House, the national debt will reach $20.0 trillion by the end of decade about 140% of our current GDP. Successful debt reduction requires fiscal constraint and policies that sustain the main expansion. This includes sympathetic financial policy and measures that address structural flaws in the nation. (Author) The U.S. economy has grown more rapidly in the fourth quarter than estimated previously as end user spending scramble in the most three years, hence showing that expansion had thrust heading into this year’s harsh winter.

"Growth Effects Of Flat-Rate Taxes." Journal Of Political Economy 103.3 (1995): 519. Business Source Premier. Web. 19 Jan. 2014. 1.8901008e+12 Garrett 5

Many people today would consider the 2008, United States financial crisis a simple “malfunction” or “mistake”, but it was nothing close to that. Contrary to what many believe, renowned economists and financial advisors regarded the financial crisis of 2007 and 2008 to be the most devastating crisis since the Great Depression of the 1930’s. To make matters worse, the decline in the economy expanded nationwide, resulting in the recession of 2007 to 2009 (Brue). David Einhorn, CEO of GreenHorn Capital, even goes as far as to say "What strikes me the most about the recent credit market crisis is how fast the world is trying to go back to business as usual. In my view, the crisis wasn't an accident.

Newser. Retrieved January 27, 2014, from http://www.newser.com/article/fe7be9ba15314eccab1c8f71d1d4f4dd/federal-government-sees-big-december-surplus-of-532-billion-pushing-yearly-deficit-down.htmlChromeHTML/Shell/Open/Comm U.S Federal Deficit and Debts:Understanding the history and context. (2011, November 1). Utah Foundation. Retrieved January 25, 2014, from http://www.utahfoundation.org/img/pdfs/rr7