Economics
About how many people lost their jobs monthly
700,000 (Acceptable 650,000 - 750,000)
Who was the 43rd president (Was president during Great Recession)
George W. Bush
True or False, the Great Recession had very little impacts on the rest of the world
False
Which Political Party gained more popularity from their statements on the Great Recession
Democrats
True or False, banking instability was one of the causes for the Great Recession
True
Upper-Class
What is Hyper Conservatism
Far Right on the Political Spectrum
What was a reason for the Great Recession that stems because of banks
Stricter bank loans
What two companies were able to be saved due to the government economic actions
General Motors and Chrysler
Time Period of the Great Recession (Month and Year) (Start - End)
December 2007 - June 2009
Define what a Recession is
A prolonged period of economic turmoil
Who backed the "Tea Party" movement
Billionaires and Political Action Corporations (PACs)
Due to Obamacare what 2 things occurred
Prolonged insurance of children under parents to 26 years old and protected people from being denied treatment if they had a preexisting medical issue
What 2 Acts made up Obamacare
Patient Protection and Affordable Care Act
This action gave the government more power over banks and the housing industry
Wall Street Reform and Consumer Protection Act
What was the name of the Treasury Secretary that aided both the Bush and Obama administration navigate the Great Recession
Timothy Geithner
Define deleveraging
A reduction of debts by selling assets
What economic sector did people have a covetous obsession with (We won't tell you the definition of covetous) :) (Hint: Ultra Rich People)
Housing
What were both of the learning targets that YOU were supposed to understand after the slides
1.)I can explain the causes and effects of the Great Recession and how it impacted the US.
2.)I can explain the effects of the Great Recession on the present (2026)