- USC: Pandemic Could Cost U.S. Nearly $5 Trillion in GDP Over Two Years
LOS ANGELES (CNS) – The COVID-19 pandemic could result in net losses from $3.2 trillion up to $4.8 trillion in gross domestic product (GDP) over the course of two years, according to a University of Southern California (USC) study released Nov. 30. USC economists project that a best-case scenario for the United States hinges on […]
- Federal Debt Will Surge to 104 Percent of GDP Next Year and Nearly Twice That Rate by 2050: CBO
The CCP virus outbreak and federal relief efforts to counteract its economic impact will cloud the long-term fiscal outlook for decades to come, the Congressional Budget Office (CBO) said on Monday, releasing new forecasts that show federal government debt will likely surge to 104 percent in 2021 and in 2050 will be nearly twice America’s […]
- US Economy Grew by Record 33.1 Percent In Third Quarter
The Department of Commerce announced Thursday that U.S. economic output in the third quarter grew by 33.1 percent, the largest expansion on record, after falling by 31.4 percent in the second quarter, the largest shrinkage on record. In a release detailing the agency’s “advance” estimate for third-quarter gross domestic product (GDP), the Commerce Department noted, as […]
- With Reopening, US Economy Begins to Show Signs of Life
WASHINGTON—The economic recession caused by the COVID-19 pandemic lockdowns is finally starting to show signs of bottoming out. Many forecasters expect a strong bounce in economic activity over the second half of the year, while urging caution due to high uncertainty. Economic data in March and April revealed the broad damage done by the crisis on the […]
- U.S. reports HISTORIC GDP growth five days before the Presidential election
October 29, 2020 The United States economy recorded the largest GDP growth in history in its third quarter, with an astonishing 33.1 percent just five days before the Presidential elections. It’s fantastic news for incumbent President Donald Trump, whose campaign staple is increasing job growth nationwide, bringing jobs back to America and promising to overcome […]
- U.S. GDP Grew 33.1% in Third Quarter, Fastest Expansion Ever
The U.S. economy grew at the fastest pace ever recorded in the third quarter, expanding at an annualized pace of 33.1 percent, the U.S. Commerce Department said Thursday. The economic rebound means the U.S. recovered significant ground following the record-breaking collapse of output due to lockdowns intended to stem the spread of the coronavirus. Despite […]
