Slovakia adopt the Euro joining 15 other European countries using the single currency. The First Bank of the United States and U.S. Treasury Secretary Alexander Hamilton expanded the money supply, leading to the boom and bust. The Homeowner Affordable Refinance Program is one of its programs. "More Than 3.3 Million People Have Saved with HARP. Ebola In The United States: What Happened When : Shots - Health News Taming Ebola virus is now a challenge for the American health care system. The Great Recession of 2008: What Happened, and When? The convicted terrorist Abdelbaset Ali Mohmed Al Megrahi is freed on compassionate grounds by the Scottish government. The birth of babies commonly named Jacob and Isabella helped this number continue its upward trajectory. Percent Change From Preceding Period in Real Gross Domestic Product,” Select “Modify,” Select “First Year 2008,” Select “Series Annual,” Select “Refresh Table.” Accessed April 7, 2020. Barack Obama did not become president in 2009. The fields of health care and education continued to expand. 15th January » US Airways Flight 1549 makes an emergency landing in the Hudson River shortly after takeoff from LaGuardia Airport in New York City known as New York, New York. Timeline of United States history (1990–2009) References External links. All passengers and crew members survive. ... 10 killed - March 10, 2009 - In Alabama, Michael McLendon of Kinston, kills 10 … ; January 5 – A levee bursts in Fernley, Nevada, flooding a large portion of the town and forcing the evacuations of 3,500 residents. region had higher death rates than those in other regions of the country. "Gross Domestic Product, Fourth Quarter 2008 (Final) and Corporate Profits," Accessed April 7, 2020. “National Income and Product Accounts Tables: Table 1.1.1. Economic growth finally turned positive by mid-year. January 20 – Barack Obama's presidency begins with his inauguration at the United States Capitol in Washington, D.C.; the oath of office is administered by Chief Justice John Roberts. 1 - American Recovery and Reinvestment Act of 2009," Accessed April 7, 2020. Historical Unemployment Rate: Bureau of Labor Statistics. February 18 - Obama announced a $75 billion plan to help stop foreclosures. The Homeowner Affordability and Stability Plan was designed to help the 7 million to 9 million homeowners avoid foreclosure by restructuring or refinancing their mortgage before they got behind in their payments. Gunmen, near the Gaddafi Stadium in Lahore, Pakistan fire on a bus carrying the Sri Lankan cricket team. The argument was that, if we had just let the banks go bankrupt, the worthless assets would have been written off. More Than 3.3 Million People Have Saved with HARP. It also included a $2,500 college tuition tax credit, an $8,000 tax credit for first-time homebuyers, and a deduction of sales tax on new car purchases. The crisis intensified dramatically following the collapse of the Wall Street investment bank Lehman Brothers in September of last year, and the government-led rescue of … The King of Pop Michael Jackson dies age 50 - June 25, 2009. 2008 Financial Crisis Causes, Costs, and Could It Happen Again? He is a graduate school lecturer and has been developing and investing in energy projects for 35+ years. It was designed to stimulate the housing market by allowing up to 2 million credit-worthy homeowners who were upside-down in their homes to refinance, taking advantage of lower mortgage rates. May 3 – Spider-Man is released in theaters as the first film in the Spider-Man trilogy. May 1 – Nicktoons TV (renamed Nicktoons in 2003, then in 2009) launches in the United States. Greenland the least densely populated country in the world ( 836,109 sq miles ) population less than 60,000 an autonomous country within the Kingdom of Denmark, gains control over its law enforcement, judicial affairs, and natural resources. In 2009 governments in the US and around the world pumped trillions of dollars into the financial system and into the economies hoping to avert another Great Depression and by the end of 2009 although unemployment had continued to increase, markets had recovered and most thought the worst was over. U.S. Department of the Treasury. From 2000 to 2009, voters made a series of terrible political choices. Of these, there are six states that already have a minimum of $7.25 (as of July 24, 2009): Arizona, Hawaii, Iowa, Kentucky, Maine (increases to $7.50 in October), and New Hampshire • The other 13 states and the District of Columbia have a minimum wage above $7.25: Bureau of Economic Analysis. Mobile Phone technology continues to grow with increased use of 3G networks and improvemnents in the Operating Systems that drives most moblile phones today. "Top Picks," Select “Civilian Employment,” Retrieve Data, Select “1948-2020,”  Select “Go.” Accessed April 7, 2020. Citing a potential problem in which poorly placed or incorrect floor mats under the driver’s seat could lead to uncontrolled acceleration in a range of models, Toyota announced that it was recalling 3.8 million U.S. vehicles. Also, those whose mortgage rates reset would see their loan payments jump. What happened in 2009 the year you were born, Copyright © 2004 / 2018 The People History Where People Memories and History Join, Kgalema Petrus Motlanthe / Jacob Gedleyihlekisa Zuma, Our Price Basket Of Goods and Economy Updated Every 6 Months, Ongoing financial crisis and recession which began in late 2007 continues with many calling it the worst financial crisis since the Great Depression of the. Percent Change From Preceding Period in Real Gross Domestic Product,” Select “Modify,” Select “First Year 1980,” Select “Series Quarterly,” Select “Refresh Table.” Accessed April 7, 2020. Causes of the 2008 Global Financial Crisis, How COVID-19 Has Affected the U.S. Economy, How Every President Since Hoover Has Affected the U.S. Economy, H.R. In other words, the free market couldn't solve the problem without government help. February 27 - The Bureau of Economic Analysis’s final report revised its U.S. gross domestic product growth rate for the fourth quarter of 2008 to a negative 6.3%. That was worse than the 3.8% drop it reported in its advance report. It was also the worst slowdown since Q1 1982 when GDP fell 6.1%., The recession caused demand to slump. The result was a market panic. The Obama administration introduced HARP in April 2009. Obama Sending More Troops to Afghanistan, Provides Timeline (Dec. 1): In a press conference, President Obama announces that the U.S. military will be sending an additional 30,000 troops to Afghanistan, in an attempt to prevent further Taliban insurgencies. That was worse than any other bear market since the Great Depression of 1929. June 1, 2000 - For the first time since 1851, the United States of America does not participate in a major World's Fair, the Hannover 2000 World Expo, despite a record number, 187, of international participants.President Bill Clinton had withdrawn U.S. participation late in 1999 after agreement to participate in 1997. Here are the key events in United States news for the month of December 2009. In February, President Obama signed a $787 billion stimulus package into law, with the hope that the money would help to create 3.5 million jobs for out-of-work and underemployed Americans and help pull the U.S. out of recession. Barack Obama is sworn in as the 44th President of the United States, becoming the first African-American to hold the office. Could You?" Following former U.S. President Bill Clinton meeting with with Kim Jong-il in North Korea two American journalists, who had been arrested and imprisoned for illegal entry earlier in the year receives pardons. • States in the Southeast . A trader walks across the floor of the New York Stock Exchange near the end of the trading day on March 5, 2009 in New York City. In October, the unemployment rate rose to 10% for the first time since 1982. 2009 On January 25th, George W. Bush passed the presidential torch to the USA’s first African-American president (Barack Obama). The country of Paraguay is left with no power for a few hours and 60 million in Brazil also suffer power outage for up to 6 hours. Browse historical events, famous birthdays and notable deaths from Apr 2009 or search by date, day or keyword. Media related to 2006 in the United States at Wikimedia Commons; This page was last edited on 28 April 2021, at 23:56 (UTC). CDC released guidance for day and residential camps to reduce spread of influenza. The year 2009 did see an 18% cent recovery in US share prices, but overall, investors will be more than happy to see the decade ending. What happened in April 2009. 14th February » Northern Illinois University shooting: a gunman opened fire in a lecture hall of the … That often happens during a recession. In that special week of September people in US were listening to I Gotta Feeling by The Black Eyed Peas. Read CNN's Fast Facts about mass shootings in the United States. The bailout affected you by lowering interest rates, making it possible for the housing market to recover. Most banks wouldn't allow a loan modification until the borrower missed three payments. Accessed April 7, 2020. Bureau of Economic Analysis. President Josefa Iloilo suspends the nation's Constitution, dismisses all judges, Thailand Prime Minister Abhisit Vejjajiva again declares a state of emergency in Bangkok and surrounding areas ( September 2008 ). Consumers were surprised in October 2009 by the first of a series of highly publicized recalls of Toyota vehicles in the United States. Roxana Saberi, an Iranian-American journalist, is sentenced to eight years in prison for espionage by an Iranian court, Following the reelection of Iranian president Mahmoud Ahmadinejad on. We track the … In March, the stock market plummeted even more, panicking investors who thought the worst was over. The deadliest bushfires in Australian history ( Black Saturday bushfires ) in the Australian state of Victoria leave 173 people dead and more than 2000 homes destroyed. Technically, the Great Recession was over. A protest movement in Iceland expands as the 2009 Icelandic financial crisis protests start. It was paid out of the Troubled Asset Relief Program funds. Aug 25 Edward [Ted] M. Kennedy, United States Senator from Massachusetts (b. In other words, the government should have let capitalism do its thing. Bureau of Labor Statistics. Freddie Mac. She is the President of the economic website World Money Watch. The Icelandic banking system collapse causing the collapse of the Icelandic government and resignation of the Prime Minister Geir Haarde, G-20 summit, involving state leaders rather than the usual finance ministers, meets in London and later in the year in Pittsburg to discuss the ongoing global financial crisis. 2009 Beledweyne bombing The National Security Minister Omar Hashi Aden was killed along with nineteen others after he was targeted by an insurgent suicide car bomber in a town west of Mogadishu. Events January. The Making Homes Affordable Program was launched to help homeowners avoid foreclosure. How the BEA Tracks Recessions The Bureau of Economic Analysis (BEA) revises its GDP estimates as it receives new data, a process that usually takes place in July. • In 2009, the five leading causes of death were heart . Some people react to unemployment by getting sicker from the stress. In a few weeks, the lack of capital would have led to a shut-down of small businesses, which can't afford the high-interest costs. Robert Kelly is involved in developing energy projects utilizing emerging technologies including renewable energy (solar, wind) and natural gas. This virus was designated as influenza A (H1N1)pdm09 virus. "Sully" Sullenberger makes a successful Crash landing In the Hudson River. That's what Former Treasury Secretary Hank Paulson attempted to do with Lehman Brothers. 8th January » A 6.1-magnitude 2009 Costa Rica earthquake e.g earthquake in northern Costa Rica kills 15 people and injures 32. NASA launches the Lunar Reconnaissance Orbiter/LCROSS probes to the Moon to search for water ice near the Moon's south pole. When historians update the history of the United States and ponder when we lost our way and punted the mantle of global supremacy to China, they'll conclude this past decade was the turning point. The World Health Organization declares H1N1 influenza strain, commonly referred to as "swine flu", as a global pandemic. Through 8 August 2009, the CDC had received 36 reports of pediatric deaths with associated influenza symptoms and laboratory-confirmed pandemic H1N1 from state and local health authorities within the United States, with 22 of these children having neurodevelopmental conditions such as cerebral palsy, muscular dystrophy, or developmental delays. May 10 – FBI agent Robert Hanssen is sentenced to life imprisonment without the possibility of parole for selling American secrets to Moscow for $1.4 million in cash and diamonds. Miscellaneous Fun Facts, Trivia, and Pop Culture Trends. January 21 – Israel withdraws from the Gaza Strip, officially ending its … Israel and Hamas declare a unilateral ceasefire in the Gaza War. It was the worst calendar decade on record in the United States, with prices losing a half per cent every year on average. "H.R. HASP provided a $1,000-a-year principal payment for borrowers who stayed current on the loan. World. PBS.org explains that pop culture is that … The 2007–2009 recession was typical in this regard, with construction and manufacturing both experiencing their largest percentage declines in employment of the post-WWII era, 13.7 and 10.0 percent, respectively (percentages the The Federal Reserve) played in trying to end the crisis in the United States? President Barack Obama receives his flu jab during the 2009 swine flu pandemic Dec 25 Umar Farouk Abdulmutallab unsuccessfully attempts a terrorist attack against the US while on board Northwest Airlines Flight 253 injure more than a hundred, and destroy more than 900 homes. The President of Guinea-Bissau, João Bernardo Vieira, is assassinated. Most recently, the unemployment rate fluctuated wildly, from a low of 4.7 percent in 2008 to a peak of 10.1 percent in 2009, after the U.S. housing bubble burst and Wall Street saw collapses unlike those seen since the Great Depression in the 1920s and 1930s. That threatened to shut down cash flow to all businesses, large and small. Many people felt there was no oversight. It was detected first in the United States and spread quickly across the United States and the world. Pirates Attempt Hijack of MV Maersk Cargo Ship 280 miles southeast of Eyl, Somalia, Hijack Fails but they take the Captain Richard Phillips as a hostage, Barack Obama is inaugurated as the 44th President of the United States, Michael Jackson dies in strange circumstances and brings worldwide outpouring of grief. An American and Russian satellites collide over Siberia, creating a number of Conspiracy theories. February 13 - Congress approved the $787 billion economic stimulus package. It boosted economic growth by granting $288 billion in tax cuts, $224 billion in unemployment benefits, and $275 billion for "shovel-ready" public works. He became president in November 2008, but one historical event that happened in 2009 is the swine flu is spredding. All 50 states, the District of Colombia, Puerto Rico and the U.S. Virgin Islands had reported cases of 2009 H1N1 infection. They agreed that banks should not have been rescued for making bad decisions based on greed. Dozens of others were injured in the brazen attack on the transitional government. There was a lot of anger about the billions in taxpayer dollars used to bail out the banks. Without credit market functioning, businesses are not able to get the capital they need to run their day-to-day business. The longest total solar eclipse of the 21st century, lasting up to 6 minutes and 38.8 seconds, occurs over parts of Asia and the Pacific Ocean. The Great Recession was a period between December 2007 and June 2009 that saw the 2008 financial crisis, some of the worst unemployment … It provided $54 billion in tax write-offs for small businesses. It was Tuesday, under the sign of Virgo (see zodiac on September 1, 2009). Economic growth for all of 2008 was an anemic -0.1%.. 2009 Financial Crisis Explanation with Timeline. Effect. Important Events in 2009 Jan 20 Barack Obama , inaugurated as the 44th President of the United States of America, becomes the United States' first African-American president Mar 4 International Criminal Court issues an arrest warrant for Sudanese President Omar Hassan al-Bashir for war crimes and crimes against humanity in Darfur becoming the first sitting head of … Bureau of Economic Analysis. The bank bailout bill stopped the bank credit panic, allowed Libor rates to return to normal, … Bureau of Economic Analysis. The science of vaccine development has advanced since the 2009 outbreak of H1N1 or swine flu. The bank bailout bill stopped the bank credit panic, allowed Libor rates to return to normal, and made it possible for everyone to get loans. The Great Recession would have been a global depression. By late-June, more than 30 summer camps in the U.S. had reported outbreaks of 2009 H1N1 influenza illness. • January – The worst month of the Great Recession sees nearly 800,000 jobs lost; the unemployment rate rises to 7.8%, the highest since June 1992. January 3 – Joe Biden drops out of the 2008 U.S. presidential election. But in 1844, … Why Many Americans Think Another Depression Is Likely After COVID-19, Recessions Explained, Plus Five Warning Signs, How the Government Mortgage Bailout Affected You, How QE Allows Central Banks to Create Massive Amounts of Money. “DJIA Daily Performance History, “ Download DJIA Daily Performance History. "Gross Domestic Product, Fourth Quarter 2008 (Advance) and Corporate Profits," Accessed April 7, 2020. Without the bill, it would have been impossible for people to get credit applications approved for home mortgages and even car loans. Jan 31 In Kenya, at lea 113 people are killed and over 200 injured following an oil spillage ignition in … They thought the banks just used the money for executive bonuses. Others return to school to get a new skill. The financial crisis of the Great Recession worsened in 2009. A History of Nationalization in the United States: 1917-2009 U.S. Congress. The Large Hadron Collider (LHC) the world's largest and highest-energy particle accelerator resumes operations in February 2010, The Death of the King of Pop Michael Jackson (, The top two selling movies in 2009 are "Harry Potter and the Half-Blood Prince" and "Ice Age: Dawn of the Dinosaurs". While the 2009 H1N1 virus strain was commonly referred to as "swine flu", there is no evidence that it is endemic to pigs (i.e. Accessed April 7, 2020. The US president was Barack Obama (Democrat), the UK Prime Minister was Gordon Brown (Labour), Pope Benedict XVI was leading the Catholic Church. At the time, he took office, world censuses estimated a world population of roughly 6.8 billion. Fans of the King of Pop bid farewell … Communist Protesters block Singha Durbar in Nepal. The 2009 flu pandemic in the United States was caused by a novel strain of the Influenza A/H1N1 virus, commonly referred to as "swine flu", that was first detected on 15 April 2009. But the facts are as the number of satellites increase above the earth the chances of Space collisions increases. The United States has a long and rich tradition of nationalizing private enterprise, especially during times of economic and social crisis. Most recently, the unemployment rate fluctuated wildly, from a low of 4.7 percent in 2008 to a peak of 10.1 percent in 2009, after the U.S. housing bubble burst and Wall Street saw collapses unlike those seen since the Great Depression in the 1920s and 1930s. March 5 - The Dow dropped to 6,594.44. It was a total decline of 53.4% from its peak close of 14,164.53 on October 9, 2007. This would have caused even more foreclosures. S&P Dow Jones Indices. “National Income and Product Accounts Tables: Table 1.1.1. For many who remained unemployed, lost their homes and credit rating, or were forced to take jobs at far lower pay, things only got worse. The unemployment rate rose to 10% in October 2009, the worst since the 1982 recession. Almost 6 million jobs were lost in the 12 months prior to that. Employers added temporary workers, too cautious about the economy to add full-time employees. 1932) Aug 25 Robert Heppener, Dutch composer (Hymns & Conversations for 28 Harps; Memento), dies at 84; Aug 25 Ted Kennedy, American politician (US Senator (D)-Massachusetts, 1962- 2009), dies of … In November NASA announces they found 'significant' ammounts of water on moon. Death in the United States, 2009. 6.3 magnitude earthquake strikes near L'Aquila, Italy, killing nearly 300. 1 - American Recovery and Reinvestment Act of 2009, Homeowner Affordability and Stability Plan Fact Sheet, Gross Domestic Product, Fourth Quarter 2008 (Final) and Corporate Profits, Gross Domestic Product, Fourth Quarter 2008 (Advance) and Corporate Profits, National Income and Product Accounts Tables. It created a run on the ultra-safe money market funds. The satellite passed over mainland Japan, which prompted an immediate reaction from the United Nations Security Council, as well as participating states of Six-party talks; Music Awards. Construction project as part of the Stimulus Package. Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. By 2016, the program had helped more than 3.3 million people.. 4.3 years in 2009. Jan. 20, 2009; Barack Hussein Obama became the 44th president of the United States on Tuesday before a massive crowd reveling in a moment of …
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