Barack Obama

What happened to the housing market in the early 2000s as a result of NINJA Loans?

• Boomed but then failed when people didn't pay back their mortgages, causing insecurity and financial crisis

• Booming, prosperous market that was super secure

What did banks do in this situtation?

• Increased loan offerings in hopes of continued income to cover failing market

• Credit freeze

What was a result of people starting to cut their spending?

• Stabilized the economy

• Loss of jobs

By the mid-2000s, more _____ than _____ held paying jobs for the first time in American history!

• women than men

• men than women

TARP bailouts to banks and financial institutions were very unpopular with taxpayers because...

• banks were still profiting, while individual Americans were receiving no benefit.

• banks shut down and were no longer available to customers.

What crisis did President Obama face?

• Largest economic crisis since the Great Depression

• Threats of war on communism

Obama's win broke the Republican hold in which region?

• East

• West

• South

• North

What did Obama promise to do if elected president?

• Fix the housing market

• Change the culture in Washington

What was so significant about Obama's recovery plans?

• They focused on business bailouts rather than on individual needs.

• They were the highest level of government spending ever (more than the New Deal and more than the Great Society).

What is the actual name for "Obamacare"?

• Free Health Care Act

• Affordable Care Act