Glossary of Legislative Terms: "Credit Authority" Archives

Glossary of Legislative Terms: "Credit Authority"

Credit Authority: Authority to incur direct loan obligations or make loan guarantee commitments.

This definition is from the Glossary in our Congressional Deskbook.

Perfect reference tool of Congressional jargon and procedural terms.

Congressional Deskbook: The Practical and Comprehensive Guide to Congress, by Michael Koempel and Judy Schneider.

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Recession, Depression, Insolvency, Bankruptcy, and Federal Bailouts

Compiled by TheCapitol.Net
Authors: Marc Labonte, Mark Jickling, David H. Carpenter, Craig K. Elwell, Baird Webel, N. Eric Weiss, Edward V. Murphy, Bill Canis, James M. Bickley, Hinda Chaikind, Carol A. Pettit, Patrick Purcell, Carol Rapaport, Gary Shorter, and Orice M. Williams

There is no simple rule-of-thumb to determine when recessions begin or end. Recessions are officially declared by the National Bureau of Economic Research (NBER), a non-profit research organization. The NBER defines a recession as a "significant decline in economic activity spread across the economy, lasting more than a few months" based on a number of economic indicators, with an emphasis on trends in employment and income.
According to the NBER, the U.S. economy entered a recession in December 2007, making it the longest recession of the post-World War II era. One unique characteristic of this recession was the severe disruption to financial markets. Financial conditions began to deteriorate in August 2007, but became more severe in September 2008. While financial downturns commonly accompany economic downturns, financial markets functioned smoothly in previous recessions.

2009, 316 pages
ISBN: 1587331594 ISBN 13: 978-1-58733-159-6
Softcover book: $19.95

For more information, see 1596Recession.com

R40198, RL34412, R40530, R40007, RS22966, RS22956, RS22963, RL34730, R40003

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May 21, 2010 07:57 AM Tips and Terms