Trade Deficit Getting Back To Economy-Destroying "Normal"
By Dave Johnson
May 13, 2010 - 1:21pm ET
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What's the old saying about those who cannot learn from history? Well, here we go again.
In the news: Oil, Chinese imports boost U.S. trade deficit,
Growing imports of oil and Chinese goods pushed the U.S. trade deficit to its highest level in 15 months in March.
The Commerce Department said U.S. exports totaled $147.9 billion in March while imports registered $188.3 billion to create a $40.4 billion trade deficit, up from a revised $39.4 billion gap in February.
A March trade deficit of $40 billion. The "new normal" is the old normal. Borrow and borrow. Send jobs overseas. Trade our dollars for oil from dangerous regions.
But hey, the stock market's up, Wall Street is paying big bonuses -- and paying lobbyists to keep things just as they are.
And unemployment, adding in the "under"employed, is "only" 17.1% -- about 26 million people.
So things are fine. Back to "normal."
So what should you do? Take your bonus and:
"Get on board. Do your business around the country. Fly and enjoy America's great destination spots. Get down to Disney World in Florida. Take your families and enjoy life, the way we want it to be enjoyed."
What? You didn't get a million-dollar bonus? Your job was shipped to China?
Views expressed on this page are those of the authors and not necessarily those of Campaign
for America's Future or Institute for America's Future



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