5.7 In Class Notesheet America in the Age of Obama and Trump

The Great Recession

America's biggest economic crash (2008-2009) Prices and the stock and housing markets had grown overvalued. As prices were going up, banks were continuing to lend people money, which became unsustainable. As a result of the existing housing prices increasing, Americans had taken out adjustable rate mortgages, but after the rates went up, everyone was trying to sell their house since they couldn't afford the mortgage rates. This led to people walking away from their Comes

Troubled Asset Relief Program

A program initiated during Obama's administration to stabilize the financial system.

American Investment and Recovery Act

Also known as the Stimulus, aimed at economic recovery.

Affordable Care Act

Mandated that all Americans get health care or have a tax penalty. Government would help certain income groups buy a plan, and it banned healthcare companies from rejecting people with preexisting conditions

Black Lives Matter Movement

Response to police violence and racial injustice against African Americans.

Hodges V Obergefell

Legalized Gay Marriage.

Donald Trump

The 45th President of the United States.

Dobbs V Jackson Women's Health

Overturned Roe V Wade, stating women do not have a right to abortion.