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.

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

A harbinger of things to come?...
:confused:
Is Google the Omen of a U.S.-China Trade War?
Tuesday, Mar. 23, 2010: Few people would be surprised by Google co-founder Sergey Brin’s bravado. After all, if you were a 36-year-old billionaire, you’d probably be forgiven a little audacity yourself. Even when it came to the implacable, muscle-flexing behemoth that is China.

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It was in February, just over a month into Google’s extraordinary standoff with Beijing, that Brin appeared at a tech conference in southern California. “I’m always optimistic," he responded, when asked about the effectiveness of plans to stop censoring Chinese search results in retaliation for the hacking and e-mail pilfering that takes place behind Beijing’s Great Firewall. “Perhaps it won’t succeed immediately, or tomorrow, but maybe in a year or two," he said of the search giant’s opening gambit in a freedom-of-information tussle that, while ostensibly a commercial dispute, has come to symbolize ideological differences between the U.S. and China.

Such is the confidence of an Internet king. But in the short run, there’s little doubt that Google’s brazen salvo will turn out to be a splutter â�� at least in business terms. On March 22, Google began directing Chinese traffic to servers in Hong Kong, where mainland censorship directives do not apply. But the chance for China’s Netizens to thereby satiate long pent-up curiosity about the Dalai Lama, or what really happened in Beijing’s Tiananmen Square in June 1989, was short-lived. Within hours, mainland censors began blocking access to search results and links, and little had been brought about except Beijing’s withering enmity. A State Council Information Office spokesman slammed Google’s Hong Kong move as “totally wrong."

As a result, the world’s largest Internet company may now find itself shut out of the world’s largest Internet market. Its partners are already minimizing any damage by association. Tom.com, a hugely popular portal, is no longer powering its search engine with Google, and China’s two largest cell-phone companies are expected to tear up mobile-Internet and handset deals. Advertisers who have paid to reach the desirable demographic catered to by Google.cn â�� college graduates and professionals â�� are already feeling bereft. Soon, so will suppliers of music and video content to Google’s Chinese service.

For the past three decades, since China’s opening to the outside world, foreign companies have tried to check politics at the door before stepping into the world’s most populous nation. That was the price of doing business â�� it’s what the Chinese government required â�� and most have been willing to pay it. But Google’s rebellion, which includes openly soliciting the U.S. government’s support in the fight for Internet freedom in China, has revealed a basic truth that was never far from the surface: big companies in China are welcome as long as they serve the interests of the ruling party. Google, obviously and loudly, has failed that test â�� and has been lambasted by Beijing for, as the State Council put it, “politicizing” commercial issues.

More [url:
http://www.time.com/time/world/article/0,8599,1974392,00.html[/url]

See also:


WTO says China is world’s biggest exporter
March. 26, 2010 — The World Trade Organization Friday confirmed China’s pre-eminence in global markets, saying it had overtaken Germany as the world’s top exporter.

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China’s exports in 2009 came to $1.2 trillion last year, while Germany exported $1.12 trillion in goods and services. The United States, with exports of $1.06 trillion, was third on the list, The London Times Online reported Friday.

With increasing frequency, China has been criticized for pegging its currency to the U.S. dollar, which has kept it undervalued by as much as 20 percent, giving its exporters that much more of an edge when selling products abroad.

Foreigners doing business in China have run into other controversies recently. Google said it would close down its Chinese search engine, directing users to a site based in Hong Kong, after revealing a cyber attack had comprised e-mail accounts of human rights activists and in protest of China’s censorship laws. This week, four Rio Tinto employees, including Australian Steven Hu, were on trial for taking bribes and stealing company secrets in negotiations with China.

[url=http://www.upi.com/Business_News/2010/03/26/WTO-says-China-is-worlds-biggest-exporter/UPI-11791269631891/:
Source[/url]