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  2. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.

  3. History of the United States public debt - Wikipedia

    en.wikipedia.org/wiki/History_of_the_United...

    Public debt surged during the 1980s, as Ronald Reagan cut tax rates and increased military spending, while it decreased in the 1990s due to reduced military spending, increased taxes, and the economic boom. Public debt sharply rose following the 2007–08 financial crisis, driven by significant tax revenue declines and spending increases.

  4. National debt of the United States - Wikipedia

    en.wikipedia.org/wiki/National_debt_of_the...

    The debt ceiling is an aggregate of gross debt, which includes debt in hands of public and in intragovernment accounts. The debt ceiling does not necessarily reflect the level of actual debt. From March 15 to October 30, 2015 there was a de facto debt limit of $18.153 trillion, [ 187 ] due to use of extraordinary measures .

  5. Causes of the Great Recession - Wikipedia

    en.wikipedia.org/wiki/Causes_of_the_Great_Recession

    Recessions. Many factors directly and indirectly serve as the causes of the Great Recession that started in 2008 with the US subprime mortgage crisis.The major causes of the initial subprime mortgage crisis and the following recession include lax lending standards contributing to the real-estate bubbles that have since burst; U.S. government housing policies; and limited regulation of non ...

  6. Financial position of the United States - Wikipedia

    en.wikipedia.org/wiki/Financial_position_of_the...

    By 2009, home mortgage debt had risen to 76% of household debt and consumer credit had fallen to 18.22%. [19] According to the McKinsey Global Institute, the 2007–2008 financial crisis was caused by "unsustainable levels of household debt." The ratio of debt to household income rose by about one-third from 2000 to 2007. [20]

  7. 2007–2008 financial crisis - Wikipedia

    en.wikipedia.org/wiki/2007–2008_financial_crisis

    First quarter of 2009: For the first quarter of 2009, the annualized rate of decline in GDP was 14.4% in Germany, 15.2% in Japan, 7.4% in the UK, 18% in Latvia, [190] 9.8% in the Euro area and 21.5% for Mexico. [35] April 2, 2009: Unrest over economic policy and bonuses paid to bankers resulted in the 2009 G20 London summit protests.

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