US trade deficit pushed up

US trade deficit pushed up

Our Leaders do the importing! The Bosses!

The Trade Deficit is their Idea for a better USA!? Or is it for their pockets fuller at the expense of the Majority of US Citizens?

As part of their Plan, has to be for the Majority of Good Paying US Jobs to be replaced with grass cutting, window washing, car washing, cooking, cleaning, babysitting, planting, painting Jobs of service to the important people!

Globalization extends these RIGHTS!

We goin' broke...
:eek:
Federal Deficit Soars
07/16/08 - Congress and the White House are driving up the deficit, alarming budget hawks as the government responds to the sputtering economy.

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The nonpartisan Congressional Budget Office (CBO) has estimated that, for the first nine months of fiscal 2008, the government incurred a $268 billion deficit. That�s $148 billion more than a similar period last year � although about half that increase went toward economic stimulus checks. And much more spending is on the way. �We�re spending like a drunken sailor,� said Sen. Jeff Sessions (R-Ala.), who predicted the deficit would double this year. But in an election year dominated by domestic concerns, and with the government moving aggressively to address the economy, attacking the swelling budget deficit is not high on the agenda of either party.

�When there is an economic downturn, as we�re experiencing, you expect deficits to jump,� said Sen. Kent Conrad (D-N.D.), chairman of the Budget Committee. �I think it would be very helpful if we were demonstrating something about the long term.� Political rivals have engaged in election-year finger-pointing. The Bush administration blames Democrats for not dealing with the nation�s entitlement programs; Democrats on the Hill fault President Bush for the cost of the Iraq war. The White House Office of Management and Budget (OMB) projected in February the country would have a $410 billion deficit at the end of fiscal 2008, but that will likely be a larger figure when it releases revised numbers later this month.

The national debt, which refers to the cumulative amount the government has borrowed and not repaid, is almost $9.5 trillion, the highest level in U.S. history, according to the Treasury Department. The deficit is the amount of spending that exceeds tax revenue in a fiscal year. Congress first responded to the turmoil in the financial markets by approving legislation in February that sent rebate checks to millions of Americans, driving up the deficit by $152 billion this year.

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http://thehill.com/leading-the-news/federal-deficit-soars-2008-07-16.html[/url]