Difference between revisions of "US economy"

From Issuepedia
Jump to navigation Jump to search
(→‎News: more news of falling stuff)
(more links, more on the mortgage crisis)
Line 1: Line 1:
 
==Overview==
 
==Overview==
[[category:portals]]This page is a portal for articles and information about various aspects of the {{USA}} economy, including:
+
[[category:US]][[category:portals]]This page is a portal for articles and information about various aspects of the {{USA}} economy, including:
 
* The various ways in which the government allocates and spends money and incurs debt
 
* The various ways in which the government allocates and spends money and incurs debt
 
** [[US Presidential administration budgets]]
 
** [[US Presidential administration budgets]]
Line 17: Line 17:
  
 
A '''budget deficit''' increases the '''public debt'''; a '''budget surplus''' can decrease it, but only if there is still some left over after paying off that year's interest.
 
A '''budget deficit''' increases the '''public debt'''; a '''budget surplus''' can decrease it, but only if there is still some left over after paying off that year's interest.
 
 
==Links==
 
==Links==
 
===Reference===
 
===Reference===
Line 26: Line 25:
 
** [[wikipedia:United States public debt|United States public debt]]
 
** [[wikipedia:United States public debt|United States public debt]]
 
*** [[wikipedia:History of the U.S. public debt|History of the U.S. public debt]]
 
*** [[wikipedia:History of the U.S. public debt|History of the U.S. public debt]]
 
+
* 2007 mortgage financial crisis:
 +
** [[wikipedia:2007 Subprime mortgage financial crisis]]
 +
** [http://money.cnn.com/real_estate/foreclosures/ CNN: Mortgage Meltdown 2007]
 
===Commentary===
 
===Commentary===
 
* '''2006-12''' [http://sociology.ucsc.edu/whorulesamerica/power/wealth.html Wealth, Income, and Power]: some data about wealth and income distributions; debunks the idea that highly-paid CEOs are merely getting the price set by a fair market competing for their services
 
* '''2006-12''' [http://sociology.ucsc.edu/whorulesamerica/power/wealth.html Wealth, Income, and Power]: some data about wealth and income distributions; debunks the idea that highly-paid CEOs are merely getting the price set by a fair market competing for their services
Line 33: Line 34:
 
* '''2006-03-21''' [http://finance.yahoo.com/columnist/article/futureinvest/3022 Are Republicans or Democrats Better for the Stock Market?] by Jeremy Siegel, Ph.D.
 
* '''2006-03-21''' [http://finance.yahoo.com/columnist/article/futureinvest/3022 Are Republicans or Democrats Better for the Stock Market?] by Jeremy Siegel, Ph.D.
 
* '''2004-01-22''' [http://money.cnn.com/2004/01/21/markets/election_demsvreps/ Surprise: Dems are better for rallies] by Alexandra Twin, CNN/Money Staff Writer: "Despite 'market friendly' Republican policies, stocks rise more and volatility dips under Democrats."
 
* '''2004-01-22''' [http://money.cnn.com/2004/01/21/markets/election_demsvreps/ Surprise: Dems are better for rallies] by Alexandra Twin, CNN/Money Staff Writer: "Despite 'market friendly' Republican policies, stocks rise more and volatility dips under Democrats."
 
 
===News===
 
===News===
 +
* '''2007-08-30'''
 +
** [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/29/cnmarkets129.xml The day the stock markets saw red]: increasingly bad signs in the US markets are an echo of [[global economy|global economic]] trouble. "In the US, it was the worst week for the stock market in nearly five years, the S&P 500 index dropping almost 5 per cent." – although to read CNN, you'd never know it.
 +
** [http://money.cnn.com/2007/08/30/real_estate/flippers_fuel_foreclosures/ Flippers fuel foreclosures]: "Real estate speculators drove prices up in some of the hottest markets during the boom. Now they're making foreclosures jump."
 
* '''2007-08-10''' [[wikinews:Markets dragged down by credit crisis|Markets dragged down by credit crisis]]: "Global stock markets fell today, in a mass sell-off stemming from the [[wikipedia:subprime mortgage financial crisis|subprime mortgage financial crisis]] in the United States."
 
* '''2007-08-10''' [[wikinews:Markets dragged down by credit crisis|Markets dragged down by credit crisis]]: "Global stock markets fell today, in a mass sell-off stemming from the [[wikipedia:subprime mortgage financial crisis|subprime mortgage financial crisis]] in the United States."
 
* '''2007-08-08''' [http://investing.reuters.co.uk/news/articleinvesting.aspx?type=bankingFinancial&storyID=2007-08-08T070054Z_01_N07275495_RTRIDST_0_SP_PAGE_012-N07275495-OISBN.XML American Home Mortgage Gets Bankruptcy Court OK]: "Fundamentally, it is a wasting asset. It's diminishing over time. This asset is shrinking as each day goes by. We're asking to be able to sell this business in short order," said James Patton, an attorney with the law firm of Young, Conaway, Stargatt & Taylor, LLP, which is representing bankrupt American Home Mortgage.
 
* '''2007-08-08''' [http://investing.reuters.co.uk/news/articleinvesting.aspx?type=bankingFinancial&storyID=2007-08-08T070054Z_01_N07275495_RTRIDST_0_SP_PAGE_012-N07275495-OISBN.XML American Home Mortgage Gets Bankruptcy Court OK]: "Fundamentally, it is a wasting asset. It's diminishing over time. This asset is shrinking as each day goes by. We're asking to be able to sell this business in short order," said James Patton, an attorney with the law firm of Young, Conaway, Stargatt & Taylor, LLP, which is representing bankrupt American Home Mortgage.

Revision as of 22:59, 30 August 2007

Overview

This page is a portal for articles and information about various aspects of the United States economy, including:

This page is a seed article. You can help Issuepedia water it: make a request to expand a given page and/or donate to help give us more writing-hours!

Terminology

  • budget deficit: the amount of money which the United States must borrow in order to meet the federal budget; such borrowing increases the public debt. Opposite of budget surplus.
  • budget surplus: the amount of money left over in the federal budget after everything has been allocated. This money can be used to pay off the public debt. (Note: not sure if it automatically does this, or if there are other things that can be done with it.) Opposite of budget deficit.
  • public debt: the amount of money owed by the United States federal government to creditors who hold US Debt Instruments. This does not include the money owed by states, corporations, or individuals, nor does it include the money owed to Social Security beneficiaries in the future. Common synonyms include: national debt, gross federal debt, U.S. government debt Creditors charge interest on the public debt, so it increases each year unless there is a budget surplus sufficient to (at least) pay off that year's interest.
  • external debt: that portion of the debt of all sectors of the economy (public and private) which is owed to foreigners. Foreign ownership of the public debt is a significant part of the United States's external debt.

A budget deficit increases the public debt; a budget surplus can decrease it, but only if there is still some left over after paying off that year's interest.

Links

Reference

Commentary

the economy vs. the majority party

News