United States

    The White House’s bailout measures and economic stimulus policies helped save millions of jobs and prevented a 1930s Great Depression-style recession, two economists have noted. Mark Zandi and Alan Blinder said extensive study showed that the U.S. was likely to have experienced a deep recession if the government did not step in with its bailout packages, the Guardian says. U.S. gross domestic product could have slumped to 7.4 percent in 2009 and 3.7 percent in 2010 without the White House’s interventions, the two said.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.