Stimulating the Economy

By: Jackie Borzillo, Kelsey Silvius, Laurel Young

Intro/ history: – 20s

• 1920s automobiles became the country's largest industry, led the way to other inventions.

• stock market crash of 1929 – 30s

• Great depression – 40s

• Government responsibility to maintain high employment, growth, and stable prices

• WWII (war time economy)– 50s

• Korean War• the government enacted few major

policies economy was fairly good

Intro/ history:– 60s

• LBJ building of the Great Society • larger societal shifts, such as the

evolving role of women in the economy and changing consumption patterns– 70s

• Stagflation lingered throughout the 1970s: two recessions and the creation of price controls, floating exchange rates, and expanding global trade.

• Productivity slowed had terrible effects on the U.S. economy. – 80s

• changing market structure and its effects on deregulation– 90s

• Job insecurity led to economic insecurity.

Recent (late-2008 financial crisis)

• often called the Global Recession, Global Financial Crisis or the Credit Crunch

• Is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.

Present day• National level, the

discussion moves to government budgeting and growth, employment, and inflation.

• America’s smallest companies add up to 50 percent of U.S. GDP. Nearly 60 percent of the private sector workforce is employed by the small-business sector

• The recession has technically ended as of April 5th 2010

Evidence/ Statistics 2011 • Ranking Economy GDP (US

dollars) – 1) United States 14,582,400– 2) China 5,878,629– 3) Japan 5,497,813

• Inflation rate for the U.S. – 3.9 %

• Unemployment rate in U.S (As of Oct/20/11)– 9.0

• Stock Market loses – 2010 at 7608.92, down 13%

• Our national debt is now 15 trillion– Interest is around 3.7 trillion

• Federal Budget deficit is around 1.3 trillion

• Federal spending is around 3.6 trillion

Recent Developments 2011• Super Committee fails to

agree on deficit- reduction plan November 21,2011

• Republicans and Democrats were unable to compromise on the tax and spending issues that have divided Congress

• Major topic for the presidential election

• 2 month payroll tax holiday passed by senate

• Also unemployment extension

Bibliography• http://www.thegreatcourses.com/tgc/courses/course_detail.aspx?cid=529• http://www.motoringpicturelibrary.com/preview_image.asp?fleID=6058 • http://www.vanderbilt.edu • http://www.sensibleregulations.org/2011/11/open-letter-to-president-

obama/ • http://www.usgovernmentspending.com/us_gdp_history • http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP.pdf • http://online.wsj.com/public/page/quarterly-markets-review.html • http://notmytribe.com/2008/fox-cnn-cnbc-report-nasty-downturn-

85077.html • http://jec.senate.gov/public/ • http://articles.latimes.com/2011/nov/21/news/la-pn-super-committee-

20111121 • http://www.usdebtclock.org/index.html