What happened in the US economy in 2012?
What happened in the US economy in 2012? At the end of 2012, the U.S. debt was $16.05 trillion. That made the debt-to-GDP ratio 100%, higher than at any time since World War II. 23 Debt was driven by government spending and reduced revenue from taxes, thanks to slow economic growth. The Fiscal Year 2012 budget deficit was $1.077 trillion. What caused the 2012 recession? The reason: the growth in capital spending – the most sensitive area of the economy to the future – fell precipitously. Non-residential fixed investment decelerated from a 10.5% rate of advance in 2011 to 7.5%...