Economy

Economy Timeline

By taylor.skie
  • US ran a trade deficit of $708.5 billion.

    US ran a trade deficit of $708.5 billion.

    Trade Deficit In 2007, the US ran a trade deficit of $708.5 billion. This deficit has been ongoing since the 1990’s. As a percentage of Gross Domestic Product, this number represents -5.9% of the GDP.
  • Savings defecit is the lowest it's ever been.

    Savings defecit is the lowest it's ever been.

    Savings Deficit In November and December of the year 2007, the average household savings deficit reaches it’s lowest point since the Great Depression. In addition to this, monthly household debt service payments as a percentage of income reach an all time high.
  • 80% of people believe that there is a leadership deficit in the US.

    80% of people believe that there is a leadership deficit in the US.

    Leadership Deficit In 2008, 80% of surveyed people believe there is a leadership crises versus only 65% in 2005. The lack of confidence spans beyond just the executive branch and extends into the military, the supreme court, the state governments, and much more.
  • The federal deficit comes in at $439 billion which is the lowest it’s been since 2007.

    The federal deficit comes in at $439 billion which is the lowest it’s been since 2007.

    Budget Deficit The 2015 Federal deficit comes in at $439 billion (2.5% the size of the economy), which is the lowest it’s been since 2007. As of now, the stands at more than $18.1 trillion (74% of the GDP).
  • Trade deficit swelled 15.6% to $48.3 billion.

    Trade deficit swelled 15.6% to $48.3 billion.

    Trade Deficit In August of the year 2015, the trade deficit swelled 15.6% to $48.3 billion. Exports to Mexico fell by $1.5 billion, and the European Union bought $500 million less from America than it did the month before.
  • Federal debt increased from 39.3% of GDP to 73.6%.

    Federal debt increased from 39.3% of GDP to 73.6%.

    Budget Deficit Federal debt increased from 39.3 percent of GDP in 2008 to 73.6 percent, according to the Congressional Budget Office. The CBO expects the debt to increase higher than the years after World War II, reaching 75.6 percent and up to 86 percent by 2026.