US trade deficit hits record US$68B in July

[ConcernedCanuk]

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US trade deficit hits record US$68B in July

(AP)
Updated: 2006-09-12 21:44

/snip/

So far this year, the deficit is running at an annual rate of US$776 billion, putting the country on course to rack up a record annual deficit for the fifth straight year. Democrats, campaigning for control of Congress in the November elections, hope voters will view the soaring trade deficits as evidence that President Bush's trade policies are not working.

For July, US exports, after setting a string of records, edged down 1.1 percent to US$120 billion - still the second highest level in history. Sales of American jetliners, computers and food products all slipped.

Imports rose to a record high of US$188 billion, an increase of 1 percent from the June level. America's foreign oil bill climbed 4.8 percent to an all-time high of US$28.5 billion, reflecting record oil prices in July.

The politically sensitive deficit with China did decline slightly in July to US$19.6 billion but is still on track to far exceed last year's US$202 billion deficit, the highest ever recorded with a single country.

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MORE

Welcome to BushWorld . .

[whistle]

1. how much did the u.s. dollar drop in value in july

[swag]

6. The dollar did next to nothing in July

http://www.frbatlanta.org/invoke.cfm?objectid=E8D80C8D-5056-9F12-1226087A810CA6C7&method=display_pressrelease

[Double T]

2. We are worried about MILITARY WEAPONS of MASS DESTRUCTION.......

when we should really be worried about shipping containers filled with Chinese Goods that are WEAPONS of ECONOMIC DESTRUCTION.

[xchrom]

3. off-shoring is a nightmare of huge

proportions -- which nobody seems to want to notice in this day and age of wageflation, inflation, cheap goods, help my native hair is on fire attitude.

amrican companies are grooming india for more white collar jobs every day -- i guess maybe then we'll see some concern over jobs going over seas?

[teryang]

4. Corporate failure to deal with energy dependence causes....

...consumers to buy Toyotas.

[SpiralHawk]

5. On the bright side: republicon oil crony profits are WAY UP

So we call all feel good that Bush and the republocrats are getting richer and richer and richer.

[still_one]

7. most of the trade deficit increase was due to fuel costs

since prices have decreased in the last two weeks, you can probably expect the trade deficit numbers to improve next time

[Hissyspit]

8. .

[pinniped]

9. * doesn't like the previous records to stand.

They will always break it.

[eccles12]

10. This used to be an election issue when the Dems were in control of

Congress and the Republicans wanted to blame them for economic woes. Don't even hear about it much anymore just as "deficit" is not talked about much.

[fasttense]

11. There is one war the bushes won-the war on the American Middle Class. n/t

[ConcernedCanuk]

12. Does that mean y'all give UP??

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Hell, we lost a lot of Canucks beating the FIRST Hitler -

I think we can handle his clone . . .