Economy

The economy is much easier to understand when all numbers are converted to a single unit - we choose Billion.

On this page:
  • All dollar figures will be accompanied by a graph to add a sense of proportionality.
  • All of theNewsLink.com's articles with an economic impact will make their way here.

Here are a few numbers converted to billion. Keep these numbers in the back of your mind while reading the news stories below:
 

Federal revenues & spending and US Population as billions
  • US Federal spending, 2009: $3,518 billion. (i.e., 3.5 Trillion)
  • US Federal revenues, 2009: $2,105 billion. (i.e., 2.1 Trillion)
  • US GDP: $14,500 billion. (i.e., 14.5 Trillion)
  • U.S. population: 0.3 billion. (i.e., 300 million)

Now the news...


Economy

Oil from BP Spill to Hit Pensacola Beach
US News, Florida: Pensacola Beach, source Wikimedia

Residents of Pensacola Florida are waiting for the imminent arrival of oil from the worst oil spill in US history. There are reports of surface oil just a few miles from the beach...

Florida's Tourism industry: ~$60 Billion / year.
Dow Jones Takes a 900 Point Plunge
Business stock market news: Dow Jones Index, 900 point plunge

The Dow Jones took a no-holds barred nosedive some 900 points in the blink of an eye...
Video: MSNBC discusses global issues as the market plunges

Greece's EU/IMF bailout: $147 billion
  • Greece's GDP was $342 billion in 2009 according to the CIA.
  • In order to attract financing, Greece was paying investors over 15% annually for two-year government bonds prior to the loan bailout.
Snow in Florida?

Residents of Florida, the Sunshine State, have experienced a very rare event; snow flurries and sleet have been detected in the central areas of the state according to The Miami Herald and numerous sources. Key West has seen its coldest temperature in 112 years according to News 24. (This Key West record cold was just 47° F. ) ...

Florida Citrus growers become concerned about their crops when temperatures dip below freezing.
Florida's annual citrus crop is over: $9 billion

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