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The Great Recession In Charts

The Great Recession In Charts. September, 2013 Professor Robert Kaulfuss Prof. of Economics Middlesex Community College BeyondEconomics.org. Employment. Housing. Evolution of Too Big to Fail. Bailouts and Stimulus. Congress: $700 Billion: TARP (Bush) $787 Billion: Stimulus (Obama) Fed

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The Great Recession In Charts

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  1. The Great RecessionIn Charts September, 2013 Professor Robert Kaulfuss Prof. of Economics Middlesex Community College BeyondEconomics.org

  2. Employment

  3. Housing

  4. Evolution of Too Big to Fail

  5. Bailouts and Stimulus • Congress: • $700 Billion: TARP (Bush) • $787 Billion: Stimulus (Obama) • Fed • Trillions: Direct Support to Financial Industry • Trillions: QE 1, 2, 3 (money printing) • CNN Bailout Tracker

  6. The Obama Fiscal Stimulus(Keynesian Economics) GDP = C + I + G + (X – M) Math for Obama Stimulus • MPC: 1/3 spent, 2/3 saved, Multiplier of 1.5 • $14T + 6% over two years = $14.8 • $14T – 6% over two years = $13.1 • Need: $1.7T • $1.13T X 1.5 = $1.7T (-> $900B -> $787B)

  7. Fed Response:Fed Funds Rate

  8. Fed Response: Quantitative Easing

  9. Fed Response:Quantitative Easing

  10. CBO Federal Deficit Projections Extended Baseline Assumptions: 1) End Bush tax cuts; 2) GDP growth of 4%; 3) Cut defense/other spending by 1/3 Concord Coalition, 2012

  11. Federal Government Debt Peter G. Peterson Foundation - http://www.pgpf.org/archive/charts

  12. State & Local Government Debt http://www.pgpf.org/Chart-Archive/0113_state_local_debt

  13. Aging Baby Boomers

  14. Growth in Federal Spending

  15. Energy Prices & Economic Growth

  16. The U.S. Economy

  17. 2008-2009: A Sinking Ship

  18. 2013: Barely Afloat

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