China About to Bump Japan as the No. 2 Economy

Staff / Truthdig Jan 21, 2010 Even in the face of the global economic crisis, China's economy still managed to grow by a surprising 8.7 percent last year, according to the bean-counters in Beijing, putting the country on track to overtake Japan as the world's second-biggest economy. Dig deeper ( 1 Min. Read )

Your Bailout Bill: $10,000 (and Counting)

Staff / Truthdig Jan 8, 2010 The total price tag for each American for the financial bailout is about $10,000. Could be worse: Brits are paying more than $47,000 apiece. The unemployed bear the brunt of the meltdown, but we all carry a debt for saving Citi, AIG and the rest. Dig deeper ( 1 Min. Read )

U.S. Economic Growth Falls Short of Earlier Figure

Staff / Truthdig Nov 25, 2009 Whoops! The bad news in this bulletin is that the U.S. economy didn't grow at quite the rate -- 3.5 percent -- from July through September that the Department of Commerce previously said it had. The good news: It still grew, albeit at the whittled-down pace of 2.8 percent during that time. Dig deeper ( 1 Min. Read )

China’s Economy Hums Along

Staff / Truthdig Oct 22, 2009 As the U.S. struggles to recover its footing due to the economic crisis, China is expecting yet another stellar year as it reports that the country's economy is on track to reach its target of 8 percent GDP growth this year. Dig deeper ( 1 Min. Read )

U.S. Economic Shrinkage Worst in 25 Years

Staff / Truthdig Feb 27, 2009 Either the U.S. economy was in the pool during the last three months of 2008 or the economic crisis is worse than expected. The nation's GDP shrank 6.25 percent in the fourth quarter of last year, almost doubling the preceding quarter's contraction rate of 3.8 percent. Dig deeper ( 1 Min. Read )

Obama Gets Aggressive on Cutting the Deficit

Staff / Truthdig Feb 21, 2009 Despite the fact that he's looking at a trillion-plus deficit for 2009 as he settles into his second month as president, Barack Obama has plans to cut the annual deficit by half by the time his first term ends. Dig deeper ( 1 Min. Read )

China Takes the Bronze in GDP

Staff / Truthdig Jan 15, 2009 After reconfiguring its output figures, China has finally found itself on the medal podium for gross domestic product, ousting Germany from its role as third largest economy in the world. China's economy has grown tenfold in the past 30 years, and its development, while marveled at, worries many environmental, human rights and labor activists. Dig deeper ( 1 Min. Read )

What Else Is New? Economy Slumps, Oil Profits Surge

Staff / Truthdig Aug 1, 2008 Despite the massive federal stimulus package, national GDP only grew 1.9 percent from April to June, the Commerce Department has announced, and it actually shrank in the last quarter of 2007. Meanwhile, high gas prices, supposedly reflecting costs, spiked profits of oil companies, with Exxon recording its most profitable quarter ever. In fact, reports the NYT, "It was the highest quarterly profit ever for any American company, as Exxon made nearly $90,000 a minute." Dig deeper ( 1 Min. Read )