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Nine Facts about the Great Recession and Tools for Fighting the Next Downturn
Report

Nine Facts about the Great Recession and Tools for Fighting the Next Downturn

Diane Whitmore Schanzenbach, Ryan Nunn, Lauren Bauer, David Boddy and Greg Nantz
Brookings Institution, 2016
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Editorial Rating

8

Qualities

  • Analytical
  • Eye Opening

Recommendation

Today, the American economy continues to live with the aftermath of the 2007–2009 recession, despite the effectiveness of many of the fiscal and monetary policy tools that officials deployed to address it. getAbstract recommends this insightful analysis from the Hamilton Project/Brookings Institution, which offers nine results from battling the Great Recession that might help policy makers in tackling future recessions.

Take-Aways

  • During the Great Recession of 2007–2009, the United States’ gross domestic product (GDP) declined more than 4%.
  • Today, the American economy remains far below its “maximum sustainable output.”
  • During the recession, fiscal programs automatically increased spending for food stamps and unemployment insurance benefits, which provided highly effective stimulus during the downturn.

About the Authors

Diane Whitmore Schanzenbach et al. work for the Hamilton Project, part of the Brookings Institution.

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