US trade deficit widens further
Foreign imports of oil into the US are continuing to grow
The US trade deficit has hit a new monthly high of $68.5bn, with imports of oil and cars continuing to grow significantly.
January's deficit was 5% higher than a month earlier and exceeded the previous record of $67.8bn seen last October.
The figures make gloomy reading for the Bush administration after the deficit hit an annual high of $723.6bn in 2005.
The value of imports rose 3.5% to $182.9bn, eclipsing a 2.5% rise in US exports to $114.4bn.
Costly oil
Economists said the figures pointed to the annual deficit rising above $800bn in 2006.
The increased cost of oil imports helped fuel the deficit rise, according to figures released by the Commerce Department.
The trade shortfall with Opec, the oil producers' organisation, rose by more than 11% to $8.4bn.
However, imports of a wide range of consumer and industrial goods, including food industrial supplies and cars, also hit record levels.
"You can't blame it all on energy, because the trade deficit excluding petroleum rose faster than the overall deficit," Michael Sheldon, chief market strategist at stockbrokers Spencer Clarke told Reuters.
The deficit with China continues to grow amid persistent calls by Washington for China to further revalue its currency.
The US trade gap with China rose 9.9% to $17.9bn.
I found this article on The Raw Story, and Oh My God! We have to do something
We are going to go bankrupt as a nation! We cannot continue down this road. The republican party for years kept saying the democrats just want to tax and spend, basically villifying the party as a whole, but look at where we are now fiscally. You have to tax, if you are going to spend. This country cannot continue to live it's Yuppie, I want it now and pay later ways.
Look, I know there are good and bad politicians on either side of the aisle, but lets face it, the Democratic party, while a more liberal party, are proven to be more fiscally responsible. This is a fact, proven, records show it, case closed. This war, is not only costly, but unecessary. We would have been better off to put that money into our education system, and invest in ourselves, rather than spread the mass destruction we did. I'm not against war, don't get me wrong, I do believe we needed a campaign to oust Saddam. Why did we give up on Osama? Why did we stay in Iraq after Saddam and his sons were removed? Truly, we cannot make Iraq a democracy, nor should we try. Hell, look at Palestine, they had a chance, an election, and they voted Hamas into power.
Though I firmly believe no government should be dictated by religion, neither Muslim nor Christianity, I do believe it is not our place to dictate to another country what is right or wrong there, hell we can't even straighten out our own crap!!!!!!!!
We need a leader in office, not a politician, we need bankers running the budget, not politicians, we need teachers running education, not politicians. We need reform
Thank the Constitution for freedom of speech, and freedom of expresion. Thank the fore fathers, maybe soon we will have leaders with the foresight and fiscal responsibility they had. That will be a great day!
The US trade deficit has hit a new monthly high of $68.5bn, with imports of oil and cars continuing to grow significantly.
January's deficit was 5% higher than a month earlier and exceeded the previous record of $67.8bn seen last October.
The figures make gloomy reading for the Bush administration after the deficit hit an annual high of $723.6bn in 2005.
The value of imports rose 3.5% to $182.9bn, eclipsing a 2.5% rise in US exports to $114.4bn.
Costly oil
Economists said the figures pointed to the annual deficit rising above $800bn in 2006.
The increased cost of oil imports helped fuel the deficit rise, according to figures released by the Commerce Department.
The trade shortfall with Opec, the oil producers' organisation, rose by more than 11% to $8.4bn.
However, imports of a wide range of consumer and industrial goods, including food industrial supplies and cars, also hit record levels.
"You can't blame it all on energy, because the trade deficit excluding petroleum rose faster than the overall deficit," Michael Sheldon, chief market strategist at stockbrokers Spencer Clarke told Reuters.
The deficit with China continues to grow amid persistent calls by Washington for China to further revalue its currency.
The US trade gap with China rose 9.9% to $17.9bn.
I found this article on The Raw Story, and Oh My God! We have to do something
We are going to go bankrupt as a nation! We cannot continue down this road. The republican party for years kept saying the democrats just want to tax and spend, basically villifying the party as a whole, but look at where we are now fiscally. You have to tax, if you are going to spend. This country cannot continue to live it's Yuppie, I want it now and pay later ways.
Look, I know there are good and bad politicians on either side of the aisle, but lets face it, the Democratic party, while a more liberal party, are proven to be more fiscally responsible. This is a fact, proven, records show it, case closed. This war, is not only costly, but unecessary. We would have been better off to put that money into our education system, and invest in ourselves, rather than spread the mass destruction we did. I'm not against war, don't get me wrong, I do believe we needed a campaign to oust Saddam. Why did we give up on Osama? Why did we stay in Iraq after Saddam and his sons were removed? Truly, we cannot make Iraq a democracy, nor should we try. Hell, look at Palestine, they had a chance, an election, and they voted Hamas into power.
Though I firmly believe no government should be dictated by religion, neither Muslim nor Christianity, I do believe it is not our place to dictate to another country what is right or wrong there, hell we can't even straighten out our own crap!!!!!!!!
We need a leader in office, not a politician, we need bankers running the budget, not politicians, we need teachers running education, not politicians. We need reform
Thank the Constitution for freedom of speech, and freedom of expresion. Thank the fore fathers, maybe soon we will have leaders with the foresight and fiscal responsibility they had. That will be a great day!
posted by Snappy | 3/09/2006 10:32:00 AM
1 Comments:
When you have a president that has been bailed out by his daddy all his life, what can we expect? The republicans are conservative only in saving their own rich butts tax dollars, but they are literally like a bunch of teenage girls with "Big Daddy's" credit card gone to the mall with the middle class tax dollars.
However, the democrats don't show much promise either. Now that they have decided to fluff their religious feathers just to get a vote. How super hippocritical can you be? It saddens me to think that we have so little to choose from. Jimmy Carter looks better to me every day. He might not have had all the social graces, but the man is smart. Plus he has done more good for the poor of this country than any bill or law could ever be. He get out there and works. And believe it or not, he is a good Christian, and a Baptist at that. Go figure.
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