Evaluating the Economic Crisis

EVALUATING THE ECONOMIC CRISIS NORTH CAROLINA vs. U.S. UNEMPLOYMENT BANKRUPTCY CASES JUNE 30, 2007 - JUNE 30, 2008 JULY - DECEMBER 2008 North Carolina United States Filings Terminations Suneployed 1,000,000, 1000,000 367,831 929.206 900,000 900,000 The United States and the state of North Carolina are feeling the backlash from the economic downtum as job losses reach record numbers and Wall Street and small businesses struggle to get back to business as it once was. The Obama administration is working with the $700 billion stimulus package, determining the best allocation of money and getting the economy on its feet. 62,32 800.000| s00.000 751,056 700,000L 700,000 AUG. SEPT. OCI. NOV. DEC. JULY 2007 2008 $700 BILLION: ANATOMY OF THE BAILOUT U.S. STATE UNEMPLOYMENT RATES DECEMBER 2008 WA VT 575b 7 institutions ME NH % unemployed ND BIG BANKS $1256 OR MN MA 0-3.% 525b Bank of America SD WI RI 4-5.% $25b Citigroup WY PA 6-1% NE NJ UT IN S706b allocated 8-9.% CA CO DE KS MO SMALL BANKS $1256 10 - 11.9% NC MD TN S54.4b avalable AZ NM OK AR SC DC MS AL GA 182% TX LA FED PROGRAM $806 AK FL March 198 HI FORECLOSURES $506 MORE BIG BANKS $25b CitigroupM $45b s20b Bank of America 102% Feb 1983 CAPITAL FOR AI.G. Historical high unemployment rate $406 AUTOMAKERS $24.8b FED PROGRAM $20b Dec. 2008 unemployment rate REMAINING FUNDS $190.26 Historical low unemployment ate 3.1% April 1999 1.9 Feb 199 1.9% April 19 commited under Bush administranion commited under Obama administration WY NO SD NE UT IA NH KM DE W KS T VAH MO LA DE CO AR DE WD ITAL PA AZ NA MN ME NY O UNA NO AKL KY ON N MS FL GAIN K DK ODR NY CA SKEM Source: The New York Times, FED, Treasury Department MINDY NICHAMIN