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The Great Recession

Sal Muto

The Great Recession began in December of 2007 and lasted until June 2009

6%

10%

Gross Domestic Product and the number of jobs also decreased very quickly.

The Recession saw unemployment rise dramatically.

Percentage decrease in GDP over the year 2008

The peak unemployment rate during the Great Recession

Poverty Rate

Changes during the Great Recession

During the Great Recession, poverty grew to

25

15.1%

1.04 M

9.2%

3.1

Banks began to forclose on houses that were not being paid for.

$3.43

450k

$2.06

3.63%

Million houses forclosed on during the Great Recession

Bankruptcies

Mortgage Failure Rate

Bank Failures

Government Spending (trillions)

The Great Recession

57%

Many argue the main cause of the crash was the subprime mortgage crisis in the housing market.

18%

Decrease in the S&P500(from its peak)

Decrease in the Dow Jones during 2008

"Too Much" Government Regulation

Home Prices

Decreased 30% during the recession

30%

President Barack Obama

Won a crucial election in 2008, an election where voters were looking for their next leader in hopes that he would lead the US out of economic hardship

Democrat

All Voters

Republican

Works Cited:

1. “Great Recession of 2008 and After .” Edited by Paul S Boyer, Search.Credoreference.Com, Oxford University Press, Inc., 2013, search.credoreference.com/articles/Qm9va0FydGljbGU6NDgwMTA5MA==?q=Great+Recession.

6. Nakajima, Makoto. “The Diverse Impact of the Great Recession.” Shibboleth Authentication Request, 1 June 2013, web-p-ebscohost-com.unh.idm.oclc.org/ehost/pdfviewer/pdfviewer?vid=8&sid=b797b7c8-aefc-4799-a2d6-fa2b8d6bf971%40redis.

2. “The Impact of the Great Recession on Economic Wellbeing How Different Are OECD Nations and Why? .” Edited by Cary L Cooper, Search.Credoreference.Com, Wiley, 2014, search.credoreference.com/articles/Qm9va0FydGljbGU6NDI5MDgyNQ==?q=Great+Recession.

7. McKay, Adam, director. The Big Short. Regency Enterprises Plan B Entertainment

8. Brooks, Clem, and Jeff Manza. “A Broken Public? Americans’ Responses to the Great Recession.” Shibboleth Authentication Request, 1 Oct. 2013, web-p-ebscohost-com.unh.idm.oclc.org/ehost/pdfviewer/pdfviewer?vid=15&sid=b797b7c8-aefc-4799-a2d6-fa2b8d6bf971%40redis.

3. Citation: Muto, Sal, and Sal Muto Sr. “2008 Economic Recession Interview.” 13 Feb. 2024

4. Danzinger, Sheldon. “Evaluating the Effects of the Great Recession.” Shibboleth Authentication Request, Nov. 2013, www-jstor-org.unh.idm.oclc.org/stable/24541674?searchText=%28Great%2BRecession%29&searchUri=%2Faction%2FdoAdvancedSearch%3Fq0%3DGreat%2BRecession%26f0%3Dall%26c1%3DAND%26f1%3Dall%26acc%3Don&ab_segments=0%2Fbasic_search_gsv2%2Fcontrol&refreqid=fastly-default%3A145c5f6dfafafd17e2f7213d510d7b65&seq=2.

5. Bartels, Larry M. “Political Effects of the Great Recession.” Shibboleth Authentication Request, Nov. 2013, www-jstor-org.unh.idm.oclc.org/stable/24541676?searchText=%28Great%2BRecession%29&searchUri=%2Faction%2FdoAdvancedSearch%3Fq0%3DGreat%2BRecession%26f0%3Dall%26c1%3DAND%26f1%3Dall%26acc%3Don&ab_segments=0%2Fbasic_search_gsv2%2Fcontrol&refreqid=fastly-default%3A145c5f6dfafafd17e2f7213d510d7b65&seq=2.