Our deficit is growing rapidly. Our 2010 deficit was 33% bigger than the year before.


Annual Summary for 2010

Goods and Services

For 2010, exports of $1,831.8 billion and imports of $2,329.7 billion resulted in a goods and services deficit of $497.8 billion.

Our 2010 trade deficit for goods and services is $500 billion.

Our 2010 trade deficit is $122.9 billion more than the 2009 deficit of $374.9 billion.

Our deficit is growing rapidly.  Our 2010 deficit was 33% bigger than the year before.

For goods, exports were $1,289.1 billion and imports were $1,935.6 billion, resulting in a goods deficit of $646.5 billion, $139.6 billion more
than the 2009 deficit of $506.9 billion.

The trade deficit is even bigger when looking at goods alone.  Our goods trade defict is $650 billion. That is 28% bigger
than the year before.

For services, exports were $542.8 billion and imports were $394.1 billion, resulting in a services surplus of $148.7 billion, $16.7 billion more
than the 2009 surplus of $132.0 billion.

The goods and services deficit was $497.8 billion in 2010, up from $374.9 billion in 2009. As a percentage of U.S. gross domestic product, the goods and services deficit was 3.4 percent in 2010, up from 2.7 percent in 2009.

The average adult consumes $700 per month in imported goods.  If we could reduce that to $517 per person per month, we would have no trade deficit at all.

I like to add (though it is difficult to quantify, but very likely to
be true):  With no trade deficit, we would likely have 3-4%
unemployment (a historical rate of unemployment)

Final Point: All we need to do is reduce our consumption of imported goods 25% to have jobs again in this country.

http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm

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