when did the government bailout the auto industry
Automotive industry crisis of 2008–10 In September 2008, the Big Three asked for $50 billion to pay for health care expenses and avoid bankruptcy and ensuing layoffs, and Congress worked out a $25 billion loan.[87] By December, President Bush had agreed to an emergency bailout of $17.4 billion to be distributed by the next administration in January and February.[88] In early 2009, the prospect of avoiding bankruptcy by General Motors and Chrysler continued to wane as new financial information about the scale of the 2008 losses came in. Ultimately, poor management and business practices forced Chrysler and General Motors into bankruptcy. Chrysler filed for chapter 11 bankruptcy protection on May 1, 2009[89] followed by General Motors a month later.[90]
1990s United States boom It was in the spring of 1994 that the U.S. economy finally reached "escape velocity": GDP growth surged and the number of jobs created (3.85 million) set a record that has yet to be surpassed as of 2015. But 1995 would bring a pause in economic growth, primarily because the Federal Reserve raised interest rates from 3% to 6% beginning in late-1994 to prevent inflation from rising after such rapid growth along with two government shutdowns that slowed the economy. The pause was short-lived, however, as the economy adjusted and the surge of investment in the Dot-Com bubble would jumpstart the economy beginning in late-1995. 1996 saw a return to steady growth, and in May 1997 unemployment fell below 5% for the first time since December 1973.