Summary of the US Economy from the CIA
I have been looking at some details of various countries on the CIA website during the last few weeks. It’s a great website,
it talks about history, economy, government, people, geography, etc. I decided to read through the CIA’s description of the US Economy. I’d like to highlight a few things of note on the summary of our economy:
“The US has the largest and most technologically powerful economy in the
world, with a per capita GDP of $43,500. In this market-oriented
economy, 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 1975, practically
all the gains in household income have gone to the top 20% of
households.”
“Imported oil accounts for about two-thirds of US
consumption.”
“Long-term problems include inadequate investment in
economic infrastructure, rapidly rising medical and pension costs of an
aging population, sizable trade and budget deficits, and stagnation of
family income in the lower economic groups. The merchandise trade
deficit reached a record $750 billion in 2006.”
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