The U.S. is still struggling to claw out of the hole created by the Great Recession, the Wall Street-caused crisis that resulted in the loss of millions of jobs. According to a new report from Better Markets, a pro-financial reform organization, the crisis cost Americans about $12.8 trillion in lost economic output:
– Estimated actual gross domestic product (“GDP”) loss from 2008 to 2018, of $7.6 trillion. This is the cumulative difference between potential GDP — what GDP would have been but for the financial and economic crises– and actual and forecast GDP during the period.
New Report Finds Financial Crisis Cost Economy $12.8 Trillion
The income gap between the richest 1 percent and the rest of America widened to a...
For the first time, more than half of U.S. public school students live in low-income households,...
