The financial crisis that began in 2007 spread and gathered intensity in 2008, despite the efforts of central banks and regulators to restore calm. By early 2009, the financial system and the global economy appeared to be locked in a descending spiral, and the primary focus of policy became the prevention of a prolonged downturn on the order of the Great Depression. The volume and variety of negative financial news, and the seeming impotence of policy responses, has raised new questions about the origins of financial crises and the market mechanisms by which they are contained or propagated. This book presents and discusses the economic policies which have been put into place by the United States government in order to address these problems.
Preface; Authoritative Resources on the American Recovery & Reinvestment Act of 2009 (ARRA); Causes of a Financial Crisis; Economic Effects of a Budget Deficit Exceeding $1 Trillion; Foreign Holdings of Federal Debt; Running Deficits: Positives & Pitfalls; Foreign Ownership of U.S. Financial Assets: Implications of a Withdrawal; Inflation: Causes, Costs, & Current Status; Monetary Policy & the Federal Reserve: Current Policy & Conditions; Ongoing Government Assistance for American International Group (AIG); Poverty in the United States: 2008; The National Debt: Who Bears its Burden?; Interest Payments on the Federal Debt: A Primer; Is the U.S. Current Account Deficit Sustainable?; U.S. Trade Deficit & the Impact of Changing Oil Prices; Trends in Discretionary Spending; Outsourcing & Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data; Job Loss & Infrastructure Job Creation Spending During the Recession; Index.
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