Latest Developments

January 14, 2010. President Obama announced a proposal for a new Financial Crisis Responsibility Fee to be imposed on the debt of the largest financial firms until the American people are fully compensated for the extraordinary assistance they provided to Wall Street: “We want our money back, and we're going to get it.”

December 14, 2009. With America’s economy having been pulled back from the brink of total collapse, in no small part due to actions like the Recovery Act that has saved and created over a million jobs, and TARP which was imperative to stabilizing a financial system is danger of dragging everybody down with it, the President today made clear to a dozen bank CEOs that they must do their part.

December 4, 2009. Today’s employment report was the most hopeful sign yet that the stabilization of financial markets and the recovery in economic growth may be leading to improvements in the labor market.

November 12, 2009. The President announces a Forum on Jobs and Economic Growth.

October 29, 2009. Data released today by the Commerce Department show that real GDP grew at an annual rate of 3.5 percent in the third quarter of the year.  This is in stark contrast to the decline of 6.4 percent annual rate just two quarters ago.

September 24 - 25, 2009. Pittsburgh, Pennsylvania hosted the G-20 Summit September 24-25, 2009. President Obama chaired the meeting of leaders from countries around the world that represent 85 percent of the world’s economy. 

21, 2009. President Obama laid out his vision for innovation, growth, and quality jobs earlier today at Hudson Valley Community College. 

July 17, 2009. Remarks By Lawrence H. Summers, Director of the National Economic Council and Assistant to the President for Economic Policy - Rescuing and Rebuilding the U.S. Economy: A Progress Report. "Recovery will take time and history suggests that there will be setbacks along the way. Yet the pervasive sense of fear of six months ago has receded as strong rescue measures have taken hold. And confidence and hope are returning as a program of rebuilding the economy moves forward. The American economy progresses." Transcript

June 17, 2009. President Obama laid out a comprehensive regulatory reform plan to modernize and protect the integrity of our financial system.

May 2009. eJournal USA: The Global Financial System - Six experts describe the mechanics of the global financial system presenting their views concerning the cyclical nature of markets, the interdependence of global trade relationships, and the role of regulation.

May 2009. President Obama’s central focus is on stimulating economic recovery. The current economic crisis is the result of many years of irresponsibility, both in government and in the private sector.

April 21, 2009. In an op-ed, Secretary of Agriculture Tom Vilsack wrote: “Over the past 10 years, the U.S. has supplied roughly half of food aid from all donors. 

February 17, 2009. The purpose of the American Recovery and Reinvestment Act is to create and save jobs, jumpstart the U.S. economy, and build the foundation for long-term economic growth.

October 3, 2008. President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. 

Information on the U.S. Economy

• Economic Report of the President
• Federal Reserve Board: About the Fed
• Bureau of Economic Analysis: U.S. Economic Accounts
• Bureau of Economic Analysis: Overview of the U.S. Economy
• Bureau of Economic Analysis: Gross Domestic Product
• Bureau of Labor Statistics: Economy at a Glance
• U.S. Census Bureau: Economic Indicators
• U.S. Census Bureau: Foreign Trade Statistics