Home > Uncategorized > Weren’t you guys worried about the trade deficit?

Weren’t you guys worried about the trade deficit?

Well here’s some “good” news…

The Trade Deficit is down by 64 percent!

The Numbers:
American trade deficits –

December 1999: $25.5 billion

May 2006: $71.9 billion (peak) 

October 2008: $58.0 billion
November 2008: $42.5 billion
December 2008: $39.9 billion
January 2009: $36.2 billion
February 2009: $26.0 billion

What They Mean:

Writing for PPI in 2007 on trade deficits, former Commerce Department official Doug Karmin pointed out that despite wistful hopes that lower imbalances might mean more employment, historically the truth has been just the opposite:

“Higher imports (and usually, therefore, higher trade deficits) have usually been indicators of falling unemployment, while lower imports and trade deficits [as in 1982, 1991 and 2001] go hand-in-hand with rising unemployment.”

(Source PPI)

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Hmmm… I guess that wasn’t quite what you were looking for.

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