Does President Bush bear responsibility for the Great Recession?
Bush administration was characterized by significant income tax cuts in 2001 and 2003, the implementation of Medicare Part D in 2003, increased military spending for two wars, a housing bubble that contributed to the subprime mortgage crisis of 2007–2008, and the Great Recession that followed.
Why was the 2008 recession so bad?
Causes of the Recession The Great Recession—sometimes referred to as the 2008 Recession—in the United States and Western Europe has been linked to the so-called “subprime mortgage crisis.” Subprime mortgages are home loans granted to borrowers with poor credit histories. Their home loans are considered high-risk loans.
Is recession and depression the same?
Recession. A recession is a normal part of the business cycle that generally occurs when GDP contracts for at least two quarters. A depression, on the other hand, is an extreme fall in economic activity that lasts for years, rather than just several quarters.
Which things usually decrease during a recession?
The National Bureau of Economic Research (NBER) defines a recession as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in the real gross domestic product (GDP), real income, employment, industrial production, and wholesale-retail sales.” A …
What is the opposite of being depressed?
In many ways, mania is the opposite of depression and is characterized by the following: an elevated mood or euphoria, an overactivity with a lack of the need for sleep, and an increased optimism that usually becomes so severe that the patient’s judgment is impaired and they may make decisions based on their optimism …
What is a big word for SAD?
1 unhappy, despondent, disconsolate, discouraged, gloomy, downcast, downhearted, depressed, dejected, melancholy.
What does a depression bring?
The symptoms of depression can be experienced differently among men, women, and children differently. Men may experience symptoms related to their: mood, such as anger, aggressiveness, irritability, anxiousness, restlessness. emotional well-being, such as feeling empty, sad, hopeless.