Concern rising, as is the deficit

[UpInArms]

http://www.miami.com/mld/miamiherald/7950797.htm

As the U.S. trade deficit plunged deeper into the red in 2003, trumping 2002's record shortfall, some economists warned that its enormity spelled a potential risk for increased financial volatility.

The deficit of U.S. goods and services grew by 17 percent last year, registering a record $489.4 billion gap between imports and exports, according to a Commerce Department report released Friday. December statistics were worse than economists had expected.

The American economy has been running trade deficits for almost 20 years, and many economists insist the shortfall is a sign of robust expansion, but the deficit is growing steadily with nearly all trading partners even though the falling dollar would normally serve to slow demand in imported goods as they become more expensive.

Voices of concern have started to be heard.

...more...



The National Debt has continued to increase an average of $1.77 billion per day since September 30, 2003

[Salviati]

1. With this in mind...

I had a little fun with photoshop:

[UpInArms]

2. nice job on the photoshopping

Siflnolly

could you make the money drip like blood?

check your pm

[Rowdyboy]

3. Thats flawless

Our president suffers from FDD (Fiscal Deficit Disorder). Or maybe Federal Deficit Disorder. Its apparently incurable in Republicans, though Bill Clinton proved Democrats can develop an immunity.

[myomy]

4. I just hate the thought that having all of our votes count

may depend on a "just pray to god". How can we trust these criminals?

[Strelnikov_]

5. "Things that can't go on forever, don't."

Stein's Law

Quote from article:

''The trade deficit means we are buying more than we sell,'' said Clyde V. Prestowitz, a former Reagan administration trade negotiator and the founder of the Economic Strategy Institute in Washington. ``It means we are living at a higher standard than we earn, we are consuming more than we produce. This is kind of a nice situation, kind of a party for the United States.''

[54anickel]

6. ARRRRGH. The arrogance of these blithering idiots!

snip>
''The main reason there is such a large trade deficit right now,'' Glassman said, ``is that the United States is the only country in the developed world that has a robust economy.''

snip>
Were this to change because of the changing world sentiment, Prestowitz said, the result would be more like an economic ''hangover'' for Americans.
.........................................................

At least this guy at at the end (of course they'd bury it) makes a bit more sense.

Snip>
Washington economist Charles W. McMillion, who heads MBG Information Services, said one new problem was that rising import costs do not dampen consumer buying because so much of U.S. manufacturing has gone offshore.

Said McMillion: ``The fear is we have done so much damage to our supply chain, with lots of bottlenecks, with component parts and services we just don't make in the United States anymore, that we have to import them, whatever the price.''