World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


U.S. Trade Deficit Drops, But More to the Story

U.S. Trade Deficit Drops in December, but There's More to the Story

The U.S. Trade Deficit dropped 4.5% for the month of December, 2004, when compared to the November shortfall. That is the good news, or so they say. It actually depends on who's telling the story as to how the facts are presented.

Although December's deficit was less than the preceding months tally, it is actually the second highest deficit ever in the history of the United States. That's right, when compared to the worst month in history (the one right before it) we are supposed to feel good about only running at a net loss of $56.4 billion in one month. Just so you know, November's numbers were a deficit of $59.3 billion.

In total, the U.S. had a yearly total trade deficit of $617.7 billion dollars in 2004 - also a record for the worst year in the history of the country! This was a 24% increase over the totals in 2003. Annual exports were also a record, at $1.15 trillion, but were dwarfed by the record imports total of $1.76 trillion.

More than 25% of the annual trade deficit reflects the shortfall in trade with China. In 2004, the U.S. had a $162 billion imbalance in trade with China (a new record). That is an increase (or decrease - depending on how you spin it) of 30.5 percent from our $124 billion deficit with them in 2003, the old record.

In 1998, the total U.S. trade deficit was $164.9 billion, only slightly larger than our current deficit with China alone. Since then it has exploded by nearly FOUR HUNDRED PERCENT!!!

All I can say is that the attempt to convince us that manure smells like tulips, is ingenious. I guess if you don't have any solutions you can always point to the fact that you screwed up worse the previous month.


© Scoop Media

 
 
 
 
 
World Headlines

 

At The UN: Paris Climate Agreement Moves Closer To Entry Into Force

The Paris Agreement on climate change moved closer toward entering into force in 2016 as 31 more countries joined the agreement today at a special event hosted by United Nations Secretary-General Ban Ki-moon. More>>

ALSO:

ALSO:

Gordon Campbell: On The End Game In Spain (And Other World News)

The coverage of international news seems almost entirely dependent on a random selection of whatever some overseas news agency happens to be carrying overnight... Here are a few interesting international stories that have largely flown beneath the radar this past week. More>>

Amnesty/Human Rights Watch: Appalling Abuse, Neglect Of Refugees On Nauru

Refugees and asylum seekers on Nauru, most of whom have been held there for three years, routinely face neglect by health workers and other service providers who have been hired by the Australian government, as well as frequent unpunished assaults by local Nauruans. More>>

ALSO:

Other Australian Detention

Gordon Campbell: On The Censorship Havoc In South Africa’s State Broadcaster

Demands have included an order to staff that there should be no further negative news about the country’s President Jacob Zuma, and SABC camera operators responsible for choosing camera angles that have allegedly made the President ‘look shorter’ were to be retrained... More>>

ALSO:

Gordon Campbell: On A Bad Week For Malcolm Turnbull, And The Queen

Malcolm Turnbull’s immediate goal – mere survival – is still within his grasp... In every other respect though, this election has been a total disaster for the Liberals. More>>

ALSO:

Gordon Campbell: On Bidding Bye Bye To Boris

Boris Johnson’s exit from the contest for Conservative Party leadership supports the conspiracy theory that he never really expected the “Leave” option to win the referendum – and he has no intention now of picking up the poisoned chalice that managing the outcome will entail... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news