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Friday, February 11, 2005

$15 For A Frisbee?

   By Emelius at 6:15 PM

      New reports on the record trade deficit are coming out and all I can say is HELLO! Like it or not trade is the back bone of any western economic based economy. Without balanced trade, prices go up. Prices go up and you can't afford things. You can't afford things, you end up on the street living in a box and being harassed by the cops for being a lazy bum. While Bush is going around trying to impose democracy, he is plummeting us into a trade deficit that will cripple the middle class of America. Compound this with record fiscal deficits and budget deficits and you have my candidate for worst president ever.

The Commerce Department reported that the deficit for all of last year was 24.4 percent above the previous record, an imbalance of $496.5 billion in 2003. The U.S. deficit with China also set a record of $162 billion, up 30.5 percent from last year and the largest imbalance ever recorded with a single country.

The sharp worsening of America's performance in trade was certain to spark new political criticism of President Bush's economic policies. Democrats contend that the administration has not done enough to crack down on unfair foreign trade practices. These include China's currency policy, which U.S. manufacturers believe has deliberatively undervalued the yuan by as much as 40 percent, giving Chinese companies a huge competitive advantage over U.S. firms.


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