# data[].attributes.body
Declaring independence from Britain allowed for the United States to create its own government and economy

# data[].attributes.body
The economy was very reliant on imports and exports with other countries

# data[].attributes.body
Gave the federal government the power to issue money rather than the states themselves. This was to create a strong national currency for their economy

# data[].attributes.body
Eight out of ten Americans lived on farms when George Washington became the first president of the United States in 1789.

# data[].attributes.body
To collect revenue and protect American manufacturers of glass, pottery, and other products, the first Congress introduced tariffs.

# data[].attributes.body
During Washington's eight years in office, two rival political parties formed creating an economic controversy for years to come

# data[].attributes.body
Eli Whitney’s cotton gin, John Deere’s steel plow and Cyrus McCormick’s mechanized grain reaper tremendously improved farming productivity. "From 1800 to 1890, the typical time required for a farmer to produce 100 bushels of wheat plunged from about 300 hours to roughly 50."

# data[].attributes.body
In the 19th century there were many inventions including Samuel Morse's telegraph, Alexander Graham Bell's telephone, and Thomas Edison's lightbulb, phonograph, and systems for distributing power to homes and businesses.

# data[].attributes.body
The average time it took a farmer to grow 100 bushels of wheat fell from around 300 hours to around 50.

# data[].attributes.body
11 southern states bonded together and created the confederate states of america. The civil war then took place and slavery was abolished. Slavery impacted the economy. After the war, the agriculture economy of the South switched from a plantation system to one of tenant farming. Former African-American slaves and rural whites lived in poverty for most of a century afterward.

# data[].attributes.body
Congress passed the first national tax system in 1861, issuing a national paper currency that payed for public land and construction .

# data[].attributes.body
The North continued its rapid industrialization while the south struggled to get back on their feet after the war. This was also a time period where the American economy was less dependent of trade.

# data[].attributes.body
After the Civil War ended, so did slavery, but many faced poverty along with the white people since they relied so heavily on these slaves to make their money

# data[].attributes.body
The construction of the first railroad connecting the Atlantic and Pacific coasts in 1869 allowed for the growth of a true national economy capable of competing on equal footing with Europe and Asia.

# data[].attributes.body
In 1870 there was an economic recession due to debt-ridden farmers in the South and West suffering from tight credit and falling material prices.

# data[].attributes.body
Manufacturing and industrial production in the United States had exceeded farm output in value. New factories and railroad lines emerged as a result of European financial backing.

# data[].attributes.body
The first U.S. central bank charted since 1830s

# data[].attributes.body
There was a stock market crash in the late 1920's where prices collapsed causing around 40 percent of banks to close down leading to many losing all their saving in their accounts But before this, in the early 1920's, there was a large economic expansion.

# data[].attributes.body
Franklin D Roosevelt won the 1932 election and enabled passage of a “New Deal” economic program. He temporarily shut down all banks and a few days later allowed reopening of the solvent ones strong enough to survive, effectively ending the runs on banks.

# data[].attributes.body
The Tennessee Valley Authority (TVA) is a federally chartered corporation that was formed to regulate flooding and produce electricity in a low-income area of the South.

# data[].attributes.body
During World War ll, American industry worked to help. Factories supplies war materials to U.S. forces

# data[].attributes.body
The Korean War being just 3 years cost the United States 389.81 billion dollars

# data[].attributes.body
The Vietnam War wreaked havoc on the American economy. President Johnson, unwilling to increase taxes to pay for the war, which unleashed a wave of inflation.

# data[].attributes.body
President Lyndon B. Johnson pressed Congress to expand  sharply the social safety net by passing Medicare and Medicaid government health insurance programs for the old and poor. Gov implemented other policies to eliminate poverty by improving education and housing.

# data[].attributes.body
During Reagan's presidency, there were tax cuts and business deregulation which created a rise in stocks and an economic expansion. This caused the gap between the wealthy and the poor to grow rapidly.

# data[].attributes.body
Strong economic expansion, increased prosperity and stock market speculation

# data[].attributes.body
America fought in a costly war In Afghanistan and Iraq.  Meanwhile, the cost of providing health care to Americans had increased drastically, putting pressure on the federal, state, and local governments.

# data[].attributes.body
In 2007, many houses were builtresulting in the housing market crash. In 2008, the financial crisis occurred, spreading to various places around the world.

# data[].attributes.body
The overbuilt housing market crashed in 2007, leading to a financial crisis in 2008. Unemployment soared up to 10 percent in 2009, moving to 8.8% by March 2011