What were the most important effects of the economic crisis?

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pohnpei397 eNotes educator| Certified Educator

I assume that you are talking about the economic crisis of 2007-8 that has continued to have an impact today.

I would argue that the most important effect of this for the United States as a whole is the huge government deficit that we now face due to the government's efforts to stimulate the economy.  These efforts have helped to create record deficits that have many people worried about the financial health of the country.

A second effect is related to this one.  It is the rise of the "Tea Party" in American politics.  The Tea Party has arisen largely because of opposition to the amount that the government spent in an attempt to prevent the crisis from worsening.

These are, to me, the most important impacts of this economic crisis.