EQ3 Severity of economic challenges US + EU

Question 1

What is the current high debt-to-GDP ratio of the USA?

Answer 1

123% ($34 trillion)

Question 2

What are the projected annual debt interest payments for the USA by 2028?

Answer 2

$1 trillion/year

Question 3

What is the median age of the population in the USA?

Answer 3

38.9 years

Question 4

What is the workforce participation rate in the USA?

Answer 4

62.5%

This rate reflects the proportion of the working-age population that is actively engaged in the labor market.

Question 5

By what year is Social Security expected to face shortfalls in the USA?

Answer 5

2035

Question 6

What percentage of wealth is held by the top 10% in the USA?

Answer 6

~70%

This statistic highlights significant income inequality within the country.

Question 7

What are the median household incomes in Mississippi and California?

Answer 7

Mississippi: $52,000; California: $84,000

This regional disparity reflects broader economic inequalities across states.

Question 8

Which country does the USA rely on for approximately 60% of its global chip supply?

Answer 8

Taiwan (TSMC)

This dependence raises concerns about supply chain vulnerabilities.

Question 9

What was the trade deficit with China in 2023?

Answer 9

$309 billion

This figure illustrates the imbalance in trade relations between the two nations.

Question 10

What kind of policies does the Inflation Reduction Act aim to implement?

Answer 10

Protectionist policies

These policies are intended to reshore industries and reduce reliance on foreign manufacturing.

Question 11

What is the current oil import rate for the USA?

Answer 11

~8 million barrels per day

This statistic indicates the country’s reliance on foreign oil to meet its energy needs.

Question 12

What percentage of the energy mix in the USA comes from renewables?

Answer 12

~21%

This shows the growing, yet still limited, role of renewable energy sources.

Question 13

What was the peak inflation rate in the USA in 2022?

Answer 13

9.1%

This peak reflects significant inflationary pressures in the economy.

Question 14

What is the current interest rate set by the Federal Reserve in 2023?

Answer 14

~5.25%

This rate influences borrowing costs and economic activity.

Question 15

What percentage of GDP is currently spent on military in the USA?

Answer 15

3.5%

Question 16

What is the Gini coefficient for income inequality in the USA?

Answer 16

~0.41

This coefficient indicates a higher level of income inequality compared to other countries.

Question 17

What was the youth unemployment rate in Spain?

Answer 17

27.4%

Question 18

What is the current inflation rate in the Eurozone?

Answer 18

2.7% lower than US at 2.9%

Question 19

What percentage of gas imports came from Russia in 2023?

Answer 19

~15%

Question 20

What was the trade deficit between the EU and China?

Answer 20

€396 billion (higher than US)

Question 21

What has been the effect of Brexit on UK-EU trade since 2016?

Answer 21

Down 15%

This decline underscores the economic impact of the UK’s exit from the EU.