Thursday, October 12, 2006

Another Record Trade Deficit

August saw the U.S. set another record monthly trade deficit - $69.9 billion. More American wealth leaving our shores - nice job Bushie! The good news is that with oil prices declining we should see the deficit shrink somewhat.

Day 1857!


deepie said...

The bad news is our dependency on foreign oil can make or break our country's future and to my knowledge, Bushie has not done much to spur development of alternative fuels to address this issue. Pumping more oil from Alaska seems to be his answer. Also, efforts to negotiate trade regulations with China have been fruitless. China seems to be controlling the issue and putting us at a disadvantage. Bushie must be investing in Wal-Mart.

I can see it now...higher taxes are on the way when we elect our next Prez. Maybe this can be avoided by putting an end to spending on Iraq.

Rob said...

Alaska produces less than 20 percent of our domestic oil needs. Opening ANWR will not signficantly dent our reliance on foreign oil - all that is is a political attempt to give Big Oil a nice freebie.

The fact is that Bush is an oil man, and he has done nothing on alternative energy and renewables. The rate at which American wealth is leaving this country is scary, which is probably why JKD advocate learning Chinese. Xie Xie!