Russia is a very different animal, spending less on defense as a percentage of GDP than the United States.
Predictions 7: The United States will avert recession, with GDP growth below 2%.
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Current statistics indicate that by the mid-1990s, Europe had already begun falling behind the United States, as measured both by GDP and productivity growth.
The longer run we anticipate catching back up, that the potential GDP of the United States has not been severely damaged by this recession.
But among the top performers is Tyumen, with a per-capita GDP comparable to the United States, a level which Sakhalin is swiftly approaching.
Across the pond in the United States, American debt is closer to 90% of GDP.
If you look at the chart at that link you will see that the United States has a comparatively low ratio of public debt to GDP.
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Sadly, the United States, where innovation-intensive industries account for one third of GDP, looks set to keep taking one step backward for every step forward in that drive.
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According to Karla Breceda, Jamele Rigolini and Jaime Saavedra, three economists at the World Bank, Latin American governments, on average, now spend a larger share of GDP on education for the poorest 20% of children than does the United States.
This year the United States is projected to run a budget deficit that amounts to 11.9% of GDP in 2010, the highest in the first world, according to the Organization for Economic Cooperation and Development (although the Congressional Budget Office puts the deficit-to-GDP ratio at 8.9%).
The shift from GNP to GDP a few years back put the emphasis on production by labor and property located in the United States rather than production by U.S. entities worldwide.
Get federal share of GDP back under 20% (from 25% today) by increasing private investment in the United States, getting people back to work and seeding innovation.
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