BusinessWeek/AP: US trade deficit hits all-time high

[PhilipShore]

BusinessWeek/AP
US trade deficit hits all-time high
FEB. 10

http://www.businessweek.com/ap/financialnews/D8FM9HU09.htm?campaign_id=apn_home_down&chan=db

The U.S. trade deficit soared to an all-time high of $725.8 billion in 2005, pushed upward by record imports of oil, food, cars and other consumer goods. The deficit with China hit an all-time high as did America's deficits with Japan, Europe, OPEC, Canada, Mexico and South and Central America.

The Commerce Department reported Friday that the gap between what America sells abroad and what it imports rose to $725.8 billion last year, up by 17.5 percent from the previous record of $617.6 billion set in 2004.

It marked the fourth consecutive year that America's trade deficit has set a record and was certain to spark increased debate in Congress over President Bush's trade policies. Since mid-2000 the country has lost nearly 3 million manufacturing jobs and Democrats blame the administration's policy of emphasizing free trade agreements.

[stepnw1f]

1. Any Republican Want to Tell Us Why This is Good?

The "economy" is great, right?

[Roland99]

4. It means US consumers have lots of money to buy these goods

Our wallets are just stuffed to the rafters with $20s!!

[SpiralHawk]

2. Nifty work, AWOL Cheerleader Boy

What a beaut. You and your cabal have totally trashed America.

Go away.

[LynnTheDem]

3. Since mid-2000 the country has lost nearly 3 million manufacturing jobs

THANK BUSH!

[berni_mccoy]

5. There Goes the GDP!

They were fluffing that thing up in Jan... now it's tanking.

[NoAmericanTaliban]

6. U.S. Trade Deficit Hits All-Time High

Feb 10, 11:08 AM (ET)

By MARTIN CRUTSINGER


WASHINGTON (AP) - The U.S. trade deficit soared to an all-time high of $725.8 billion in 2005, pushed upward by record imports of oil, food, cars and other consumer goods. The deficit with China hit an all-time high as did America's deficits with Japan, Europe, OPEC, Canada, Mexico and South and Central America.

<snip> ...critics say the rising trade deficit is a major factor in the loss of nearly 3 million manufacturing jobs since mid-2000 as U.S. companies moved production overseas to lower-waged nations. Many economists believe those manufacturing jobs will never come back....<snip>



http://apnews1.iwon.com//article/20060210/D8FMBL000.html?PG=home&SEC=news

[schmuls]

7. and the MoFos running this country seem like they couldn't care

less! Why are those in power content to see our manufacturing base die?

[liberal N proud]

8. Outsourced?

[twaddler01]

12. Probably

my thoughts anyway....

[Yavin4]

9. Our Economy Is Based on Buying and Selling RE

Not messy, dirty work like mfg. We live in an inflated bubble of assets. Our economy is nothing more than borrowing from the future with false expectations.

[kurth]

13. The RE bubble will end quietly

Watch for loan performance and foreclosure stats. The numbers simply can't be sustained for long.

[ixion]

10. a sign of a 'robust' economy?

I think not. :-(

[WhiteTara]

11. I loved being a manufacturer

even though our little company only employed 15 to 35 people, it helped employ lots more people in various other manufacturing companies and service sectors too. That part used to make me feel good at night when I was tired and then later broke. Now we don't have any business. We are selling off the last bits and parts at county fairs this year. Yikes. Thanks Mr pResident, you made our lives better NOT

[bspence]

14. Link doesn't work

iwon.com is a turd

[populistdriven]

15. Watch this VIDEO for the Chinese Reaction

http://festival.sundance.org/2006/watch/film.aspx?which=402&category=DOC