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US debt and deficit stats

US debt and deficit stats

A selection of graphs and statistics about US Federal debt and the US Federal budget deficit / surplus. US Federal Deficit since 1946 The federal deficit is the annual difference between federal spending and federal tax revenues. For example, in 2012, Federal receipts (tax e.t.c) were $2,450.2 billion ($2.4 trillion) (15.8% of GDP) Federal spending was $3,537.1 billion (22.8% of GDP), leaving a federal deficit of  $1,087.0 billion ($1.1 trillion) (7.0% of GDP) Source: Whitehouse.gov  US borrowing during World War Two

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US economy stats

A short summary of main US economy stats and where to find more detailed stats. Other data GDP: $16.66 trillion (Q-2 2013) GDP per capita $49,601 (2012) 10th, nominal; 6th, PPP Gini coefficient 0.48 (2011) Labor force 155.6 million (11.26 mil. unemployed) Related pages at economicshelp.org History of US national debt Other helpful external links Budget deficit historicals – at Whitehouse.gov US Bureau of labour statistics US Bureau of economic analysis US Data.gov

Prospects for US Economy in 2010

Prospects for US Economy in 2010

This graph illustrates the difference between actual GDP and potential GDP. It also indicates how much Real GDP growth has lagged behind potential growth. This means the US economy currently has substantial spare capacity. This is reflected by a rise in unemployment and factories operating below full capacity. The Real potential GDP illustrates the long run trend rate of growth which is the average sustainable rate of growth over a period of time. Notice how the recession has reduced the growth of potential GDP from 3%…

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Best Time to Buy US Dollars

Readers Question: I am researching changing currency exchange rates and was hoping to get a professional opinion on when in 2009 would be the best time to buy US dollars. Firstly, I cannot offer a professional opinion on the best time to buy US dollars. I don’t think anybody will be able to tell you the ‘best time to buy US dollars’ with any certainty. If you go to different economists you will get different forecasts for the US dollar in 2009. I have tried predicting exchange rates – sometimes they…

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Dollar, Gold and Oil Prices

Yesterday, the price of oil jumped $16 (settling at $120 on the New York Mercantile exchange). This is a remarkable increase in the price of the world’s most important commodity. If the increase is permanent it will affect both inflation and economic growth forecasts. On the same day, the price of Gold increased $44.30 to settle at $909. Whilst gold and oil increased in price, the dollar fell to its lowest value against the Euro for a month. The US currency has now lost 6% in value since Sept 11th. The reason…

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What Would Stop Devaluing Dollar?

Readers Question: What would stop the falling dollar? The dollar has been falling for many reasons. These are some of the factors which would stop the dollar falling and lead to a recovery in the value of the dollar. Higher Interest rates. US interest rates have been cut to 0% in an effort to stave off a US recession. This causes an outflow of hot money. If interest rates were raised it would encourage people to save in the US and cause an appreciation. Recovery in US economy. The US fear recession…

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Why is US in Recession?

Readers Question: Why is US in Recession?   According to the latest statistics provided by the Economist April 24th 2008 US economic growth is 2.4% year on year. In the last quarter, growth is 0.6%. This is still a long way off the technical definition of a recession – negative economic growth for two consecutive quarters. Nevertheless people have been predicting that the US will soon enter into recession. This is because 1. Credit Crunch. Banks have lost money in lending sub-prime mortgages, which involved high levels of defaults. It is not just mortgage…