THE RISE OF POLITICAL CONSERVATISM 1980 1992
PRESIDENT GEORGE HW BUSH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
seeking the support of the anti-tax “Tea Party” members
|
|
|
increasing the amount of military spending
|
|
|
raising interest rates on borrowing
|
|
|
injecting federal money into the economy
|
Detailed explanation-1: -The Emergency Economic Stabilization Act of 2008 included $700 billion to fund the Troubled Assets Relief Program (TARP), which provided loans to troubled banks. Several of the nation’s largest financial institutions were either taken over by other companies or bailed out by the federal government.
Detailed explanation-2: -1 By October 2008, Congress approved a $700 billion bank bailout, now known as the Troubled Asset Relief Program. 2 By February 2009, Obama proposed the $787 billion economic stimulus package, which helped avert a global depression.
Detailed explanation-3: -The 2008 financial crisis began with cheap credit and lax lending standards that fueled a housing bubble. When the bubble burst, the banks were left holding trillions of dollars of worthless investments in subprime mortgages. The Great Recession that followed cost many their jobs, their savings, and their homes.
Detailed explanation-4: -Homeowners suddenly found themselves with mortgages that cost more than their homes were worth, and housing demand fell. At the same time, interest rates on subprime mortgages adjusted higher, and millions of homeowners were unable to repay and went into default.