Wednesday, December 14, 2005

The Bush Economy: It's Not Just Ruining Your Life Anymore

Your grandkids will be "enjoying" Bush's ham-fisted economic policies for years.

U.S. Trade Deficit Reaches All-Time High - Yahoo! News

"A surge in oil imports and a flood of Chinese televisions, toys and computers helped to drive the U.S. trade deficit to an all-time high in October. ...

The Commerce Department reported Wednesday that the gap between what America sells overseas and what it imports rose by 4.4 percent to $68.9 billion, surpassing the record of $66 billion set in September.

The United States incurred record deficits in October with most of its major trading partners including China, the 25-nation
European Union, Canada and Mexico. ...

Nigel Gault, an economist at Global Insight ... also forecast that this year's trade deficit would reach $730 billion, compared with the record of $617.6 billion last year. He predicted next year's deficit would be an even worse $760 billion before the deficit finally begins to improve in 2007."

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