Description: This report discusses the U.S. trade deficit in light of the 2008 global financial crisis, with emphasis on international trade and U.S. trade policy, most recent developments in trade of goods and service, trade forecasts for the future, and how issues such as the U.S. trade deficit and international trade, particularly with China, are commonly perceived.

Description: The new Basel Capital Adequacy Accord (Basel III) is an agreement among countries' central banks and bank supervisory authorities on the amount of capital banks must hold as a cushion against losses and insolvency. Basel III is of concern to Congress mainly because it could put U.S. financial institutions at a competitive disadvantage in world financial markets. This report follows the basic elements of the Basel III documents on the types of capital requirements and their phase-in schedule, which were approved by the Basel member central bank governors on September 12, 2010. The elements are the new definition of Tier 1 capital, the minimum common equity capital, the capital conservation buffer, countercyclical capital buffer, liquidity coverage ratio, global leverage ratio, and wind-down government capital injections. The report concludes with some implications drawn from its content.

Description: The U.S. merchandise trade deficit is a part of the overall U.S. balance of payments, a summary statement of all economic transactions between the residents of the United States and the rest of the world, during a given period of time. Some Members of Congress and other observers have grown concerned over the magnitude of the U.S. merchandise trade deficit and the associated increase in U.S. dollar-denominated assets owned by foreigners. This report provides an overview of the U.S. balance of payments, an explanation of the broader role of capital flows in the U.S. economy, an explanation of how the country finances its trade deficit or a trade surplus, and the implications for Congress and the country of the large inflows of capital from abroad.

Description: This report looks at ways to overhaul the Social Security system due to a projected lack of system funds, which are estimated to become exhausted in 2041.

Description: This report discusses the U.S.-China economic relationship and China's rapid expansion as a global economic market, both with respect to the current global economic crisis. It also examines major U.S.-China trade issues and related legislation.