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congress is primarily responsible for the economic collapse of the economy in 2008. president obama placed the blame squarely on president George W. Bush when he stated that, as he walked into the oval office of the White House, '...wrapped in a nice bow was a $1.3 trillion deficit sitting right there on my doorstep." however, obama raised it over $200 billion in 2009.
congress is in control of government revenue under its constitutional responsibilities. house speaker nancy pelosi and majority senate leader harry reid "inherited" a $160 billion deficit in january 2007, then quickly added $1.2 trillion to the deficit three years later. unfortunately, president bush signed these increases into law which were passed by the democratic congress. it is ironic that speaker pelosi stated that "Our new America will provide unlimited opportnity for future generations, not burden them with mountains of debt."
the 9/11 attacks on the united states weakened the economy and the actions of the democratic congress made matters so much worse. the pelosi/reid economic plan completely eliminated the CBO (congressional budget office) projections of a $370 billion surplus null and void. now the projected deficit for the period 2007-2016 is $7.1trillion.
what kind of track record is that for our "future generations" mrs. pelosi?
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Whih of the following did NOT contribute to the stock market crash of 1929?
The Treasury Department's active involvement in the economy.
What did President Roosevelt do to help the economy after the stock market crash?
He introduced the New Deal
Explain the domino effect which caused great depression?
The Stock Market Crash of 1929, had a domino effect when one incident knocked over the other making the entire economy to crash.
How did high tariffs contribute to the stock market crash?
. They damaged the U.S. economy by angering foreign trade partners
What is the Great Depression causes?
The Stock Market crash, structural weakness of the economy, overproduction, misdistribution of wealth and an international crisis contributed to the Great Depression in the United States.
What happened to the economy as a result of the stock market crash?
The money from the government had dramatically decreased
Whih of the following did NOT contribute to the stock market crash of 1929?
The Treasury Department's active involvement in the economy.
Can YouTube crash your computer?
Yotube uses Flash plug-in. If the plug-in is broken or buggy then, yes. It might cause a crash of the browser. This crashed browser might have repercussions on your system stability and eventually crash your computer. Is youtube responsible for the crash? No. Is flash responsible for the crash? It contributed to it Is the browser responsible for the crash? Well, it didn't handle the crash of the plug-in, so yeah, it is partly to blame as well Is the OS responsible for the crash? Well it didn't handle a crashed browser well, so it is also partly responsible.
Why did the Great Crash represent a hallmark in the U.S. business cycle?
The Great Crash signaled a severe contraction of the economy.
Why did the economy collapse after the stock crash?
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When did the economy crash?
June 14th 2007
How can you use the word great crash in a sentence?
The economy suffered a great crash in the recession.The was a great crash from the other room.
What impact did the wall street crash have on the economy?
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What was the cause of the stock market crash?
Economy prices
What impact did the crash have on the economy?
-Millions were in debt.-Unemployment had risen
Why did the great crash represent hallmark in the us business cycle?
The Great Crash signaled a severe contraction of the economy.
Was the economy bad from 1960-1970?
The economy wasn't as bad as it was in the 1920's during the stock market crash.
