9/11
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- By: Swan HtunChapter 8: The World TodayEnduring StatementIn the years leading to the 2008 Recession, the United States continued to practice poor economic decisions, leading to a major recession that caused America's status as a world economic power to slowly decline.
- America was attacked on September 11, 2001. Conservatives used this to enact many different policies.
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- America began to make poor decisions
- Invade Iraq with more military spending
- Less taxes for the rich
- Banks gave people with bad credit loans for houses they couldn't afford. This and many other factors caused a housing bubble. People lost their jobs and homes when that bubble burst.
- I can't pay my mortgage
- I lost my job and home
- The recession went global and people suffered around the world. The U.S. government decided to bail out the banks with billions of tax dollars, a wildly unpopular decision
- Conservatives became unpopular and a Democratic president named Barack Obama was elected. He enacted plans like Obama care to help the people. Today, other countries like India are increasing in power economically
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