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In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.The Fed also pledged another 0 billion to shore up distressed mortgages, provided billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.GDP: purchasing power parity - .082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - ,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues:

In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.Moderate recovery is expected in 2002, with the GDP growth rate rising to 2.5% or more. The population includes people of European and Middle Eastern ancestry, African Americans, Hispanics, Asians, Pacific Islanders, American Indians (Native Americans), and Alaska Natives. Religions: Protestantism, Roman Catholicism, Judaism, Islam. European exploration and settlement from the 16th century began displacement of the Indians. The British took New York, New Jersey, and Delaware from the Dutch in 1664, a year after the Carolinas had been granted to British noblemen. Racial segregation in schools was declared unconstitutional in 1954. In 1964 Congress passed the Civil Rights Act and authorized U. When cracks appeared, instead of spreading and minimizing risk, the system acted to amplify unease and created a domino effect that spread across the financial system, from housing to mortgage lending, to investment banks, to securities firms, and beyond.

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In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.

The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.

GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.

Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.

Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.

The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.

The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.

.828 trillion expenditures:

In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.Moderate recovery is expected in 2002, with the GDP growth rate rising to 2.5% or more. The population includes people of European and Middle Eastern ancestry, African Americans, Hispanics, Asians, Pacific Islanders, American Indians (Native Americans), and Alaska Natives. Religions: Protestantism, Roman Catholicism, Judaism, Islam. European exploration and settlement from the 16th century began displacement of the Indians. The British took New York, New Jersey, and Delaware from the Dutch in 1664, a year after the Carolinas had been granted to British noblemen. Racial segregation in schools was declared unconstitutional in 1954. In 1964 Congress passed the Civil Rights Act and authorized U. When cracks appeared, instead of spreading and minimizing risk, the system acted to amplify unease and created a domino effect that spread across the financial system, from housing to mortgage lending, to investment banks, to securities firms, and beyond.

||

In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.

The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.

GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.

Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.

Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.

The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.

The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.

.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: 3 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports:

In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.Moderate recovery is expected in 2002, with the GDP growth rate rising to 2.5% or more. The population includes people of European and Middle Eastern ancestry, African Americans, Hispanics, Asians, Pacific Islanders, American Indians (Native Americans), and Alaska Natives. Religions: Protestantism, Roman Catholicism, Judaism, Islam. European exploration and settlement from the 16th century began displacement of the Indians. The British took New York, New Jersey, and Delaware from the Dutch in 1664, a year after the Carolinas had been granted to British noblemen. Racial segregation in schools was declared unconstitutional in 1954. In 1964 Congress passed the Civil Rights Act and authorized U. When cracks appeared, instead of spreading and minimizing risk, the system acted to amplify unease and created a domino effect that spread across the financial system, from housing to mortgage lending, to investment banks, to securities firms, and beyond.

||

In November, as confidence continued to erode, Paulson abandoned plans to buy troubled assets under TARP and instead launched a plan to recapitalize financial firms, mostly by purchasing preferred shares of banks.

The Fed also pledged another $800 billion to shore up distressed mortgages, provided $45 billion in assistance to Citigroup, and vowed further cuts to already-low interest rates.

GDP: purchasing power parity - $10.082 trillion (2001 est.) GDP - real growth rate: 0.3% (2001 est.) GDP - per capita: purchasing power parity - $36,300 (2001 est.) GDP - composition by sector: agriculture: 2% industry: 18% services: 80% (2001 est.) Population below poverty line: 12.7% (2001 est.) Household income or consumption by lowest 10%: 1.8% percentage share: highest 10%: 30.5% (1997) Distribution of family income - Gini 40.8 (1997) index: Inflation rate (consumer prices): 2.8% (2001) Labor force: 141.8 million (includes unemployed) (2001) Labor force - by occupation: managerial and professional 31%, technical, sales and administrative support 28.9%, services 13.6%, manufacturing, mining, transportation, and crafts 24.1%, farming, forestry, and fishing 2.4% (2001) note: figures exclude the unemployed Unemployment rate: 5% (2001) Budget: revenues: $1.828 trillion expenditures: $1.703 trillion, including capital expenditures of $NA (1999) Industries: leading industrial power in the world, highly diversified and technologically advanced; petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining Industrial production growth rate: -3.7% (2001 est.) Electricity - production: 3,799.944 billion k Wh (2000) Electricity - production by source: fossil fuel: 70.76% hydro: 7.19% other: 2.21% (2000) nuclear: 19.84% Electricity - consumption: 3.613 trillion k Wh (2000) Electricity - exports: 14.829 billion k Wh (2000) Electricity - imports: 48.879 billion k Wh (2000) Agriculture - products: wheat, other grains, corn, fruits, vegetables, cotton; beef, pork, poultry, dairy products; forest products; fish Exports: $723 billion (f.o.b., 2001 est.) Exports - commodities: capital goods, automobiles, industrial supplies and raw materials, consumer goods, agricultural products Exports - partners: Canada 22.4%, Mexico 13.9%, Japan 7.9%, UK 5.6%, Germany 4.1%, France, Netherlands (2001) Imports: $1.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: $862 billion (1995 est.) Economic aid - donor: ODA, $6.9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar $276.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put $168 billion quickly into the economy but served only to delay more serious consequences.

Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.

Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.

The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a $14 billion package, in December the Bush administration awarded up to $17.4 billion in loans to General Motors and Chrysler.

The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.

.148 trillion (f.o.b., 2001 est.) Imports - commodities: crude oil and refined petroleum products, machinery, automobiles, consumer goods, industrial raw materials, food and beverages Imports - partners: Canada 19%, Mexico 11.5%, Japan 11.1%, China 8.9%, Germany 5.2%, UK, Taiwan (2001) Debt - external: 2 billion (1995 est.) Economic aid - donor: ODA, .9 billion (1997) Currency: US dollar (USD) Currency code: USD Exchange rates: British pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6106 (1997); Canadian dollars per US dollar - 1.6003 (January 2002), 1.5488 (2001), 1.4851 (2000), 1.4857 (1999), 1.4835 (1998), 1.3846 (1997); French francs per US dollar - 5.65 (January 1999), 5.8995 (1998), 5.8367 (1997); Italian lire per US dollar - 1,668.7 (January 1999), 1,763.2 (1998), 1,703.1 (1997); Japanese yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997); German deutsche marks per US dollar - 1.69 (January 1999), 1.9692 (1998), 1.7341 (1997); euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.08540 (2000), 0.93863 (1999) note: financial institutions in France, Italy, and Germany and eight other European countries started using the euro on 1 January 1999 with the euro replacing the local currency in consenting countries for all transactions in 2002 Fiscal year: 1 October - 30 September Communications United States Telephones - main lines in use: 194 million (1997) Telephones - mobile cellular: 69.209 million (1998) Telephone system: general assessment: a very large, technologically advanced, multipurpose communications system domestic: a large system of fiber- optic cable, microwave radio relay, coaxial cable, and domestic satellites carries every form of telephone traffic; a rapidly growing cellular system carries mobile telephone traffic throughout the country international: 24 ocean cable systems in use; satellite earth stations - 61 Intelsat (45 Atlantic Ocean and 16 Pacific Ocean), 5 Intersputnik (Atlantic Ocean region), and 4 Inmarsat (Pacific and Atlantic Ocean regions) (2000) Radio broadcast stations: AM 4,762, FM 5,542, shortwave 18 (1998) Radios: 575 million (1997) Television broadcast stations: more than 1,500 (including nearly 1,000 stations affiliated with the five major networks - NBC, ABC, CBS, FOX, and PBS; in addition, there are about 9,000 cable TV systems) (1997) Televisions: 219 million (1997) Internet country code: Internet Service Providers (ISPs): 7,800 (2000 est.) Internet users: 166 million (2001) Transportation United States Railways: total: 212,433 km mainline routes standard gauge: 212,433 km 1.435- m gauge note: represents the aggregate length of roadway of all line-haul railroads including an estimate for Class II and III railroads (1998) Highways: total: 6,370,031 km paved: 5,733,028 km (including 74,091 km of expressways) unpaved: 637,003 km (1997) Waterways: 41,009 km note: navigable inland channels, exclusive of the Great Lakes Pipelines: petroleum products 276,000 km; natural gas 331,000 km (1991) Ports and harbors: Anchorage, Baltimore, Boston, Charleston, Chicago, Duluth, Hampton Roads, Honolulu, Houston, Jacksonville, Los Angeles, New Orleans, New York, Philadelphia, Port Canaveral, Portland (Oregon), Prudhoe Bay, San Francisco, Savannah, Seattle, Tampa, Toledo Merchant marine: total: 264 ships (1,000 GRT or over) totaling 6,911,641 GRT/9,985,660 DWT ships by type: barge carrier 1, bulk 11, cargo 14, chemical tanker 16, collier 1, combination bulk 4, combination tanker 11, container 86, multi-functional large-load carrier 4, passenger/cargo 2, petroleum tanker 81, roll on/roll off 28, specialized tanker 3, vehicle carrier 2 note: includes some foreign-owned ships registered here as a flag of convenience: Australia 1, Canada 4, Denmark 15, France 1, Germany 1, Netherlands 3, Norway 7, Puerto Rico 4, Singapore 11, Sweden 1, United Kingdom 3 (2002 est.) Airports: 14,695 (2001) Airports - with paved runways: total: 5,127 over 3,047 m: 183 2,438 to 3,047 m: 222 914 to 1,523 m: 2,413 under 914 m: 967 (2001) 1,524 to 2,437 m: 1,342 Airports - with unpaved runways: total: 9,568 under 914 m: 7,716 (2001) over 3,047 m: 1 2,438 to 3,047 m: 7 914 to 1,523 m: 1,679 1,524 to 2,437 m: 165 Heliports: 132 (2001) Military United States Military branches: Department of the Army, Department of the Navy (includes Marine Corps), Department of the Air Force note: the Coast Guard is normally subordinate to the Department of Transportation, but in wartime reports to the Department of the Navy Military manpower - military age: 18 years of age (2002 est.) Military manpower - availability: males age 15-49: 70,819,436 (2001 est.) Military manpower - fit for military NA (2002 est.) service: Military manpower - reaching males: 2,053,179 (2002 est.) military age annually: Military expenditures - dollar 6.7 billion (FY99 est.) figure: Military expenditures - percent of 3.2% (FY99 est.) GDP: Military - note: note: 2002 estimates for military manpower are based on projections that do not take into consideration the results of the 2000 census Transnational Issues United States Disputes - international: maritime boundary disputes with Canada (Dixon Entrance, Beaufort Sea, Strait of Juan de Fuca, Machias Seal Island); US Naval Base at Guantanamo Bay is leased from Cuba and only mutual agreement or US abandonment of the area can terminate the lease; Haiti claims Navassa Island; US has made no territorial claim in Antarctica (but has reserved the right to do so) and does not recognize the claims of any other state; Marshall Islands claims Wake Island Illicit drugs: consumer of cocaine shipped from Colombia through Mexico and the Caribbean; consumer of heroin, marijuana, and increasingly methamphetamine from Mexico; consumer of high-quality Southeast Asian heroin; illicit producer of cannabis, marijuana, depressants, stimulants, hallucinogens, and methamphetamine; money-laundering center * * * It comprises 48 contiguous states occupying the mid-continent, Alaska at the northwestern extreme of North America, and the island state of Hawaii in the mid-Pacific Ocean. Land acquired from France by the Louisiana Purchase (1803) nearly doubled the country's territory. In 1830 it legalized removal of American Indians to lands west of the Mississippi River. acquired southern Arizona by the Gadsden Purchase (1853). experienced rapid growth, urbanization, industrial development, and European immigration. It granted suffrage to women in 1920 and citizenship to American Indians in 1924. entered World War II after the Japanese bombing of Pearl Harbor (Dec. The measure put 8 billion quickly into the economy but served only to delay more serious consequences.Settlement expanded into the Far West in the mid-19th century, especially after the discovery of gold in California in 1848 (see gold rush). The northwestern boundary was established by treaty with Great Britain in 1846. It suffered disunity during the conflict between the slavery-based plantation economy in the South and the free industrial and agricultural economy in the North, culminating in the American Civil War and the abolition of slavery under the 13th Amendment. In 1877 it authorized allotment of American Indian reservation land to individual tribesmen, resulting in widespread loss of land to whites. The stock market crash of 1929 led to the Great Depression. Institutions exposed to securitized mortgages and associated instruments saw their positions continue to deteriorate.Those actions, in addition to similar moves by European and Asian governments, appeared to stabilize investor confidence.The stock market hit bottom for the year on November 20, with the DJIA settling at just over half of its record level of a year earlier. industries began petitioning Washington for assistance. After Congress refused a request from Detroit automakers for a billion package, in December the Bush administration awarded up to .4 billion in loans to General Motors and Chrysler.The response to the terrorist attacks of September 11 showed the remarkable resilience of the economy. Other important industries are tourism, dairying, livestock raising, fishing, and lumbering. The territory was originally inhabited for several thousand years by numerous American Indian peoples who had probably emigrated from Asia. In 1952 it granted autonomous commonwealth status to Puerto Rico. The mid-to late 1960s were marked by widespread civil disorder, including race riots and antiwar demonstrations. The instruments, designed by Wall Street lawyers outside government regulatory oversight, were complicated and lacked transparency.Moderate recovery is expected in 2002, with the GDP growth rate rising to 2.5% or more. The population includes people of European and Middle Eastern ancestry, African Americans, Hispanics, Asians, Pacific Islanders, American Indians (Native Americans), and Alaska Natives. Religions: Protestantism, Roman Catholicism, Judaism, Islam. European exploration and settlement from the 16th century began displacement of the Indians. The British took New York, New Jersey, and Delaware from the Dutch in 1664, a year after the Carolinas had been granted to British noblemen. Racial segregation in schools was declared unconstitutional in 1954. In 1964 Congress passed the Civil Rights Act and authorized U. When cracks appeared, instead of spreading and minimizing risk, the system acted to amplify unease and created a domino effect that spread across the financial system, from housing to mortgage lending, to investment banks, to securities firms, and beyond.

BUSH (since 20 January 2001) and Vice President Richard B.

The week of October 6–10, however, proved to be the worst one on Wall Street in at least 75 years, with the Dow Jones Industrial Average (DJIA) down 18%.

Under pressure to prevent a complete financial collapse, during October the Fed pumped more than .5 trillion in emergency loans to banks and nonfinancial firms, lowering interest rates and working with European central banks to contain the damage.

The two most traumatic experiences in the nation's history were the Civil War (1861-65) and the Great Depression of the 1930s.

During the 19th and 20th centuries, 37 new states were added to the original 13 as the nation expanded across the North American continent and acquired a number of overseas possessions.

BUSH elected president; percent of popular vote - George W. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace.

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