The document discusses major tax cuts totaling $1.65 trillion and the growing US budget deficit and national debt. It also notes rising oil prices over $100 per barrel, households using 130% of their income, and a $7 trillion decline in stock market value, contributing to economic challenges including a credit crisis and leading to a $700 billion stimulus/bailout package.

1.  1. Two Major Tax Cuts! $1.3 Trillion + $350
Billion
 2. US Government Yearly Budgets
 2008: Budget Deficit - $1.4 Trillion
 3. National Debt - $10.6 Trillion
 4. Credit Crisis
 Households using 130% of their income
 5. Rise of Oil Prices – Over $100/Barrel
 6. Stock Market Decline – Lost $7 Trillion in
Value

2. $700 Billion (Stimulus/Bailout)