But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Since 1975, practically all the gains in household income have gone to the top 20% of households. In 2014, the unemployment rate dropped to 6 sex dating in butte nebraska. TRUMP elected president; electoral vote - Donald J. 5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1. Britain s American colonies broke with the mother country in 1776 and were recognized as the new nation of the United States of America following the Treaty of Paris in 1783.
) country comparison to the world: 3 British pounds per US dollar: 0. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. At the same time, businesses face higher barriers to enter their rivals home markets than foreign firms face entering US markets. PENCE (since 20 January 2017); note - the president is both chief of state and head of government head of government: President Donald J. With US GDP growth below 2%, the Fed has opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1. In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. Since the end of World War II, the economy has achieved relatively steady growth, low unemployment and inflation, and rapid advances in technology.
Imported oil accounts for nearly 55% of US consumption and oil has a major impact on the overall health of the economy. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. 3% of the total US population is Hispanic as of 2010 English 79%, Spanish 13%, other Indo-European 3.. TRUMP (since 20 January 2017); Vice President Michael R. 5 trillion, according to US Government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. .