Record Trade Deficit

[TennBear]

The U.S. trade deficit soared to an all-time high of $725.8 billion up from previous record of $617.6 billion set in 2004. In fact, it marked the fourth consecutive year that America's trade deficit has set a record. The deficit with China hit an all-time high 201.6 Billion, as well as Japan 82.7 Billion, EU 122.4 Billion, OPEC 92.7 Billion, Canada76.5 Billion , Mexico 50.1 Billion, and South and Central America 50.7 Billion.

[IgKh]

Excuse me for my ignorace, but what is a trade deficit?

[Scott]

An example would be if Israel exported 25 billion worth of trade goods to a certain country but imported 30 billion from them, then Israel would have a 5 billion trade deficit with that country.

The United States has some huge trade deficits with countries like China and that is considered economically unhealthy.

[IgKh]

OK, thanks.

[peaceloveunderstanding]

The U.S. trade deficit soared to an all-time high of $725.8 billion up from previous record of $617.6 billion set in 2004. In fact, it marked the fourth consecutive year that America's trade deficit has set a record. The deficit with China hit an all-time high 201.6 Billion, as well as Japan 82.7 Billion, EU 122.4 Billion, OPEC 92.7 Billion, Canada76.5 Billion , Mexico 50.1 Billion, and South and Central America 50.7 Billion.

Yep. Globalism has been good to us.

We have sold our souls for pennies.

[Snowguy716]

I love it when you go to a store and see a pair of jeans for like $120.. and you think "Hey, at that price, they must be made in America. I might just support my fellow man and buy a pair".. that is until you open the tag and it says proudly "Made by a small child making slave wages in a country you haven't heard of since the geography bee in 8th grade"... and you think.. "Oh how wonderful. This company gives jobs to the poor in a far off country. I want to support them even more. Why aren't these jeans even $150?"

Hmmm... I also hate sarcasm.

It's ridiculous.. prices continue to rise despite outsourcing of our jobs. Jeans are just a good example. Computers would be a bad example. But hey, it isn't my job to be balanced-thinking.