Part 5/10:
The financial crisis of 2008 further exacerbated the situation, with massive bailouts and unprecedented government spending aimed at stabilizing a fracturing economy. The resultant annual deficits soared, marking the U.S.'s first trillion-dollar deficit. Even after the economy regained stability and unemployment dropped, deficits remained high, leading to a debt-to-GDP ratio that climbed to 103% by the end of the Obama administration.