What is the difference between recession and depression

What is the difference between recession and depression

The main difference between responsibility and accountability is that responsibility can be shared while accountability cannot. Being accountable not only means being responsible for something but also ultimately being answerable for your actions. Also, accountability is something you hold a person to only after a task what is the difference between recession and depression done or not done. Responsibility may refer to: being in charge, being the owner of a task or event.

Examples It is Tom’s responsibility to make sure there are supplies in the office room. So Tom will be aware of this task and keep bringing in more supplies before they run out. Tom is responsible for the office supplies, but he is only held accountable — owes an explanation for his actions — if the supplies ever run out. To cite another example, take the case of the notorious 2001 Enron scandal that led to the bankruptcy of the Enron Corporation.

Members of the executive board were indicted for their illegal and unethical actions. CEO Kenneth Lay was one of the people indicted. Log in to edit comparisons or create new comparisons in your area of expertise! Menu IconA vertical stack of three evenly spaced horizontal lines. Republicans howl that the deficit is President Obama’s fault, because he has exploded government spending and failed to fix the economy. Democrats roar that President Obama inherited a catastrophic economic mess, that this mess will take time to clean up, and that our massive deficit is therefore President Bush’s fault.

Let’s start by looking at the deficits under Presidents Bush and Obama. Then we’ll figure out what has caused them. First, the chart below shows the progress of the annual deficits under Presidents Bush and Obama. Then, hit with a recession, he took the budget into deficit. In early 2009, President Obama took over, amid the worst recession since the Great Depression. 800 billion spending increase at the same time that GDP and tax collections tanked.

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