Economy Project

  • Savings Increase

    Information Website
    Spooked by the financial crisis, Americans began saving sharply more in 2008. In many ways, this may have been just a natural reaction: Investor portfolios were being crushed, jobs were disappearing in the tens of thousands in any given month.
  • Obama Re Elected

    Information Website President Obama beat Mitt Romney in the 2012 re election
    despite Romney's attempts to blame the state of the economy on his failed policies. The next election will occur in 2016.
  • Video Clip (Debt Ceiling)

  • Obama To Drop Social Security Cut From Budget

    Information Website The cuts had been included in past proposals to lure Republicans into a so-called "grand bargain" that would raise taxes and cut spending with the goal of deficit reduction. The president faced fierce resistance to the cuts, and while Republicans liked the idea, they never agreed to pair the policy with higher taxes.
  • American Trade Deficit

    Information WebsiteSince 1975, the U.S. has imported more goods than it has exported. In 2012 alone, the U.S. had a trade deficit of $784 billion. A large portion of this was oil imports, but consumer goods are another area in which the U.S. imports virtually everything
  • Proposed Budget

    Information Website Today President Obama released his sixth budget proposal, requesting $3.9 trillion in fiscal year 2015. His proposal would relieve sequestration cuts by adding back $56 billion in discretionary spending next year in an “Opportunity, Growth, and Security Initiative.” The new spending would be evenly split between military and domestic discretionary programs, and th
  • Falling Federal Budget Deficit

    Information Website The federal budget deficit will shrink this year to $642 billion, the nonpartisan Congressional Budget Office now estimates. Just three months ago, the CBO was forecasting a deficit of $845 billion for the 2013 fiscal year, which ends in September.
  • Federal Spending

    Information Website In fiscal year 2015, the federal government is projected to spend around $3.9 trillion. These trillions of dollars make up a considerable chunk – around 21 percent – of the U.S. economy, as measured by Gross Domestic Product (GDP).
  • Defense Spending Decreasing

    Information Link Defense spending in 2014 — including OCO — is 3.4 percent of the economy (gross domestic product) against a post-World War II average of 5.5 percent. If the BCA’s spending caps remain, defense spending in 2019 will fall below 2.5 percent of GDP, the lowest since 1940.