Great Recession Archives

Between 2007 and 2009, the United States experienced a severe financial crisis and economic downturn commonly known as the Great Recession.

May 31, 2023 by Essays

Between 2007 and 2009, the United States experienced a severe financial crisis and economic downturn commonly known as the Great Recession. Starting in 2006, housing values fell 30%, causing losses in mortgage-backed securities for families and financial institutions. The recession was marked by a drop in aggregate demand that caused a decline in GDP and … Read more

During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections.

May 25, 2023 by Essays

During the Great Recession, like any other economic downturn, unemployment rises, aggregate income declines, and there is a major decline in tax collections. At the same time, increased unemployment causes spending on safety-net programs to rise. In response to these situations, government appears to have only two options (neither good) to stabilize the national economy: … Read more