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Overview of US Economy September 4, 2008. GDP Increases 6 Times since 1950; Has Doubled in Your Lifetime.

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Presentation on theme: "Overview of US Economy September 4, 2008. GDP Increases 6 Times since 1950; Has Doubled in Your Lifetime."— Presentation transcript:

1 Overview of US Economy September 4, 2008

2 GDP Increases 6 Times since 1950; Has Doubled in Your Lifetime

3 Uneven Growth

4 GDP Growth In Your Lifetime

5 Recent Trends

6 Population and Employment How Many Americans? How Many Workers? What Is Unemployment Rate?

7 Source: US Census Bureau

8

9 Unemployment Rising

10 Job Growth Long Term

11 Ouch! Recent Job Losses

12 Income and Poverty What is median household/family income? What does a rich family earn? What does a poor family earn?

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17 Government Sector How much does the government spend and tax? How big is the deficit? How big is the debt?

18 Federal Outlays as % of GDP Source: CBO

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20 Federal Outlays by Category as Share of GDP Source: CBO

21 Individual Income Tax1,163.5 Corp Income Tax370.2 Payroll Taxes869.6 Excise Taxes65.1 Other Taxes47.2 Total Revenues2,515.6

22 Federal Outlays and Revenues: History and Projection Source: CBO

23

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