US trade deficit widened by 33% in 2010

[Joanne98]

Source: http://www.bbc.co.uk/news/business-12431066

The US trade deficit ballooned in 2010 by the largest amount seen in a decade, Commerce Department figures have shown.

The trade deficit - the difference between imports and exports - hit $497.8bn (£311bn) last year, up 32.8% on the year before, the biggest annual percentage gain since 2000.

Imports from China hit record levels, totalling $364.9bn for the year.

For the month of December, the deficit widened by 5.9% to $40.6bn, after a rise in the price for imported oil.



Read more: http://www.bbc.co.uk/news/business-12431066

[xchrom]

1. interesting. nt

[JDPriestly]

2. When will the American people finally see the connection between

our economic dependency on imports from countries like China (and South Korea) and our internal economic problems? Why can't we put two and two together. The link is so obvious. We need fair trade, not free trade.

[dotymed]

5. Thank You.

If we reinstated THE FAIRNESS DOCTRINE it would help so much. People would be forced (the tee vee zombies anyway) to hear and see the TRUTH.
I wish there were some way to force (yes, force) people to watch independent news......like Democracy Now or one without a progressive disposition....

[tpsbmam]

3. One news story after another....we are sooooooo fucked! K&R nt

[progressoid]

4. But I can get T-shirts at Walmart for $2.50

That's good, right?


:sarcasm:

[Populist_Prole]

6. Usual spin alright, focusing on prices rather than income

Yeah I also expect them to whitewash the news by saying how it's an indicator of how much ( more ) money is being spent by the populace.

Of course when the trade deficit drops ( slows the rate of growth ) none of the above matters. They'll just change their tune and emphasize the "exports".

They'd never get away with this BS if most would heed the economic news and remember over time instead of treating every bit of news as though it existed in a vacuum.

[n2doc]

7. And we wonder why the "recovery" has been jobless

China's economy has been so robust they are trying to slow it down due to rising inflation pressures. In the meantime they are buying so many resources (oil, food) that prices are skyrocketing for the rest of the world.

We no longer set the economic table for the world. Sucks being a second world nation, doesn't it?

[Elwood P Dowd]

8. And Obama wants three more free trade deals passed that will make it even worse.

Have to find common ground with those republicans and be more friendly with big business. Bend over folks!

:banghead: :banghead: :banghead: :banghead: :banghead: :banghead: :banghead: