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Trade Deficit Sets Another Record
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The U.S. trade deficit climbed to a record high for the fifth straight year, with 2006 imports exceeding exports by $764 billion, the Commerce Department reported yesterday. The gap reflects higher oil prices, which increased the nation's import bill, and American consumers' rising appetite for foreign-made goods. (Washington Post [1], Wednesday)
In a global economy, what does this story even mean?
FEE Timely Classic
U.S. Trade Deficits Aren't a Problem [2] by Roger Nils Folsom and Rodolfo Alejo Gonzalez
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/trade-deficit-sets-another-record/
URLs in this post:
[1] Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2007/02/13/AR2007021300589.html
[2] U.S. Trade Deficits Aren't a Problem: http://www.fee.org/publications/the-freeman/article.asp?aid=931
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