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Record Trade Deficit in January

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  • Record Trade Deficit in January

    WASHINGTON (AP) -- America's trade deficit hit a record monthly high in January, the start of an election year in which Democrats hope to use the swollen trade gap and the loss of U.S. jobs as campaign issues against President Bush.

    The Commerce Department reported Wednesday that the trade imbalance mushroomed to $43.1 billion in the first month of 2004, representing a 0.9 percent increase from the previous month.

    For all of 2003, the trade deficit posted an annual all-time high of $489.9 billion, according to revised figures.

    The latest snapshot of trade activity comes as tensions have grown over global trade and the migration of jobs in the United States to other countries.

    The Bush administration believes the best way to handle the trade deficits is to get other countries to remove trade barriers and open their markets to U.S. businesses. But Democrats and other critics point to the deficits as evidence that the president's free-trade policies aren't working and are a factor in the loss of U.S. jobs.

    Bush defended his economic policies, including free-trade, Wednesday and renewed a warning against economic isolationism -- a swipe at presumptive Democratic presidential nominee John Kerry, though Bush didn't mention him by name.


    Mr. G

  • #2
    I didn't read the article yet...

    Just wondering if things like Mad Cow and the Bird Flu have a major impact on the trade balance?

    We do a very significant amount of meat and poultry exporting, I am sure it can not help.
    Un-Official Sponsor of Randy Choate and Kevin Siegrist


    • #3
      Originally posted by lazydaze@Mar 10 2004, 06:04 PM
      I didn't read the article yet...

      Just wondering if things like Mad Cow and the Bird Flu have a major impact on the trade balance?

      We do a very significant amount of meat and poultry exporting, I am sure it can not help.
      Yes, from an article I read this morning, that is a very large part. And of course, that is Bush's fault.
      Asked what he would do differently in Iraq, Kerry said, "Right now, what I would do differently is, I mean, look, I'm not the president, and I didn't create this mess so I don't want to acknowledge a mistake that I haven't made."


      • #4
        Bush seems to hold a number of economic performance records:

        Jobs lost; Budget deficits; Trade deficits ... ...! :rolleyes:
        Norman Chad, syndicated columnist: “Sports radio, reflecting our sinking culture, spends entire days advising managers and coaches, berating managers and coaches, firing managers and coaches and searching the countryside for better middle relievers. If they just redirected their energy toward, say, crosswalk-signal maintenance, America would be 2 percent more livable.”

        "The best argument against democracy," someone (Churchill?) said, "is a five minute conversation with the average voter."


        • #5
          And you keep implying he is an slacker.
          Un-Official Sponsor of Randy Choate and Kevin Siegrist


          • #6
            Nikkolai 2 Varich!


            Whats new in Havana!

            Do you really think the chairman for the proletariat in Peiking and Havana would've allowed same?

            I don't either.

            Well, mad cow is certainly someone's fault (the one cow that was found.)

            I agree that the story made Brokaw's night with very good reason - they found ONE cow on GWB's watch. I agree - it was his fault big boy.

            Brokaw oth might not be happy as he's a wannabe rancher - that may effect his future revenues as NBC's ratings continue to decline.


            • #7
              G.W. Resume

              GEORGE W. BUSH
              1600 Pennsylvania Avenue, Washington, DC 20520


              Law Enforcement:
              I was arrested in Kennebunkport, Maine, in 1976 for driving under the influence of alcohol. I pled guilty, paid a fine, and had my driver's license suspended for 30 days. My Texas driving record has been "lost" and is not available. There are also allegations of a cocaine possession charge that was expunged from the records.

              I joined the Texas Air National Guard and went AWOL. I refused to take a drug test or answer any questions about my drug use. By joining the Texas Air National Guard, I was able to avoid combat duty in Vietnam.

              I graduated from Yale University with a low C average. I was a cheerleader.


              I ran for U.S. Congress and lost.

              I began my career in the oil business in Midland, Texas, in 19! 75. I bought an oil company, but couldn't find any oil in Texas. The company went bankrupt shortly after I sold all my stock.

              I bought the Texas Rangers baseball team in a sweetheart deal that took land using taxpayer money.

              With the help of my father and our friends in the oil industry (including Enron CEO Ken Lay), I was elected governor of Texas.


              I changed Texas pollution laws to favor power and oil companies, making Texas the most polluted state in the Union. During my tenure, Houston replaced Los Angeles as the most smog-ridden city in America.

              I cut taxes and bankrupted the Texas treasury to the tune of billions in borrowed money.

              I set the record for the most executions by any governor in American history.

              With the help of my brother, the governor of Florida, and my father's appointments to the Supreme Court, I became President after losing by over 500,000 votes


              I am the first President in U.S. history to enter office with a criminal record.

              I invaded and occupied two countries at a continuing cost of over one billion dollars per week.

              I spent the U.S. surplus and effectively bankrupted the U.S. Treasury.

              I shattered the record for the largest annual deficit in U.S. history.

              I set an economic record for most private bankruptcies filed in any 12 month period.

              I set the all-time record for most foreclosures in a 12-month period.

              I set the all-time record for the biggest drop in the history of the U.S. stock market.

              In my first year in office, over 2 million Americans lost their jobs and that trend continues every month.

              I'm proud that the members of my cabinet are the richest of any administration in U.S. history. My "poorest millionaire," Condoleeza Rice, has a Chevron oil tanker named after her.

              I set the record for most campaign fund-raising trips by a U.S. President.

              I am the! all-time U.S. and world record-holder for receiving the most corporate campaign donations.

              My largest lifetime campaign contributor, and one of my best friends, Kenneth Lay, presided over the largest corporate bankruptcy fraud in U.S. History, Enron.

              My political party used Enron private jets and corporate attorneys to ensure my success with the U.S. Supreme Court during my election decision.

              I have protected my friends at Enron and Halliburton against investigation or prosecution. More time and money was spent investigating the Monica Lewinsky affair than has been spent investigating one of the biggest corporate rip-offs in history.

              I presided over the biggest energy crisis in U.S. history and refused to intervene when corruption involving the oil industry was revealed. I presided over the highest gasoline prices in U.S. history.

              I changed the U.S. policy to allow convicted criminals to be awarded government contracts.

              I a! ppointed more convicted criminals to administration than any President in U.S. history.

              I created the Ministry of Homeland Security, the largest bureaucracy in the history of the United States government.

              I've broken more international treaties than any President in U.S. history.

              I am the first President in U.S. history to have the United Nations remove the U.S. from the Human Rights Commission.

              I withdrew the U.S. from the World Court of Law.

              I refused to allow inspector's access to U.S. "prisoners of war" detainees and thereby have refused to abide by the Geneva Convention.

              I am the first President in history to refuse United Nations election inspectors (during the 2002 U.S. election).

              I set the record for fewest numbers of press conferences of any President since the advent of television.

              I set the all-time record for most days on vacation in any one-year period. After taking off the entire month of August 2001, I presided over the worst security failure in U.S. history.

              I garn! ered the most sympathy for the U.S. after the World Trade Center attacks and less than a year later made the U.S. the most hated country in the world, the largest failure of diplomacy in world history.

              I have set the all-time record for most people worldwide (including the U.S.) to simultaneously protest me in public venues (15 million people), shattering the record for protests against any person in the history of mankind. (Contrast that against the worldwide regard for J.F.K!)

              I am the first President in U.S. history to order an unprovoked, pre-emptive attack and the military occupation of a sovereign nation. I did so against the will of the United Nations, the majority of U.S. citizens, and the world community.

              In my State of the Union Address, I lied about our reasons for attacking Iraq and then blamed the lies on our British friends.

              I have cut health care benefits for war veterans and support a cut in duty benefits for active duty t! roops and their families -- in wartime.

              I am the first Presiden t in history to have a majority of Europeans (71%) view my presidency as the biggest threat to world peace and security.

              I am supporting development of a nuclear "Tactical Bunker Buster," a WMD.

              I have so far failed to fulfill my pledge to bring Osama Bin Laden to justice.


              All records of my tenure as governor of Texas are now in my father's library, sealed and unavailable for public view.

              All records of SEC investigations into my insider trading and my bankrupt companies are sealed in secrecy and unavailable for public view.

              All records or minutes from meetings that I, or my Vice-President, attended regarding public energy policy are sealed in secrecy and
              unavailable for public review.

              Official Lounge Sponsor of:
              Brett Hull & St. Patricks Day