Legislative branch:
bicameral Congress consists of the Senate (100 seats, one-third are
renewed every two years; 2 members are elected from each state by
popular vote to serve six-year terms) and the House of
Representatives (435 seats; members are directly elected by popular
vote to serve two-year terms)
elections: Senate - last held 7 November 2006 (next to be held on
November 2008); House of Representatives - last held 7 November 2006
(next to be held on November 2008)
election results: Senate - percent of vote by party - NA; seats by
party - Democratic Party 49, Republican Party 49, independent 2;
House of Representatives - percent of vote by party - NA; seats by
party - Democratic Party 232, Republican Party 203
Judicial branch:
Supreme Court (nine justices; nominated by the president and
confirmed with the advice and consent of the Senate; appointed to
serve for life); United States Courts of Appeal; United States
District Courts; State and County Courts
Political parties and leaders:
Democratic Party [Howard DEAN]; Green Party; Libertarian Party
[Steve DAMERELL]; Republican Party [Ken MEHLMAN]
Political pressure groups and leaders:
NA
International organization participation:
AfDB, ANZUS, APEC, Arctic Council, ARF, AsDB, ASEAN (dialogue
partner), Australia Group, BIS, BSEC (observer), CBSS (observer), CE
(observer), CERN (observer), CP, EAPC, EBRD, FAO, G-5, G-7, G- 8,
G-10, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA, IFAD, IFC,
IFRCS, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, ISO, ITU, MIGA,
MINUSTAH, NAFTA, NATO, NEA, NSG, OAS, OECD, OPCW, OSCE, Paris Club,
PCA, PIF (partner), SECI (observer), SPC, UN, UN Security Council,
UNCTAD, UNESCO, UNHCR, UNITAR, UNMEE, UNMIL, UNMOVIC, UNOMIG, UNRWA,
UNTSO, UPU, WCL, WCO, WHO, WIPO, WMO, WTO, ZC
Flag description:
13 equal horizontal stripes of red (top and bottom) alternating
with white; there is a blue rectangle in the upper hoist-side corner
bearing 50 small, white, five-pointed stars arranged in nine offset
horizontal rows of six stars (top and bottom) alternating with rows
of five stars; the 50 stars represent the 50 states, the 13 stripes
represent the 13 original colonies; known as Old Glory; the design
and colors have been the basis for a number of other flags,
including Chile, Liberia, Malaysia, and Puerto Rico
Economy United States
Economy - overview:
The US has the largest and most technologically powerful economy in
the world, with a per capita GDP of $42,000. 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. US business
firms enjoy greater flexibility than their counterparts in Western
Europe and Japan in decisions to expand capital plant, to lay off
surplus workers, and to develop new products. At the same time, they
face higher barriers to enter their rivals' home markets than
foreign firms face entering US markets. US firms are at or near the
forefront in technological advances, especially in computers and in
medical, aerospace, and military equipment; their advantage has
narrowed since the end of World War II. The onrush of technology
largely explains the gradual development of a "two-tier labor
market" in which those at the bottom lack the education and the
professional/technical skills of those at the top and, more and
more, fail to get comparable pay raises, health insurance coverage,
and other benefits. Since 1975, practically all the gains in
household income have gone to the top 20% of households. The
response to the terrorist attacks of 11 September 2001 showed the
remarkable resilience of the economy. The war in March-April 2003
between a US-led coalition and Iraq, and the subsequent occupation
of Iraq, required major shifts in national resources to the
military. The rise in GDP in 2004 and 2005 was undergirded by
substantial gains in labor productivity. Hurricane Katrina caused
extensive damage in the Gulf Coast region in August 2005, but had a
small impact on overall GDP growth for the year. Soaring oil prices
in 2005 and 2006 threatened inflation and unemployment, yet the
economy continued to grow through mid-2006. Imported oil accounts
for about two-thirds of US consumption. Long-term problems include
inadequate investment in economic infrastructure, rapidly rising
medical and pension costs of an aging population, sizable trade and
budget deficits, and stagnation of family income in the lower
economic groups.
GDP (purchasing power parity):
$12.31 trillion (2005 est.)
GDP (official exchange rate):
$12.49 trillion (2005 est.)