8.13.2004
Trading Deficits
According to this article at MSNBC, the economy is steadily getting worse and worse.
The U.S. trade deficit widened much more than expected in June, hitting a record $55.8 billion as the biggest drop in exports in nearly three years combined with record imports, the government said on Friday.
I should note that this is the biggest defecit since September 2001. To put this in perspective, the current administration has made a habit of blaming current economic problems on September 11 and the events that occured as a result. However, it seems to me that any sort of competent governing body could find a way to keep levels from dropping lower throughout the period. Certainly, America's obsession with foreign cars and foreign electronics doesn't help the overall trend. Having better relations with foreign nations, something that isn't Bush's strong suit, certainly couldn't hurt.
The U.S. trade deficit widened much more than expected in June, hitting a record $55.8 billion as the biggest drop in exports in nearly three years combined with record imports, the government said on Friday.
I should note that this is the biggest defecit since September 2001. To put this in perspective, the current administration has made a habit of blaming current economic problems on September 11 and the events that occured as a result. However, it seems to me that any sort of competent governing body could find a way to keep levels from dropping lower throughout the period. Certainly, America's obsession with foreign cars and foreign electronics doesn't help the overall trend. Having better relations with foreign nations, something that isn't Bush's strong suit, certainly couldn't hurt.
