Trade Imbalance
Americas Trade Imbalance: What does it mean?*
A trade deficit (trade surplus) is the difference between the value of all the goods and services made in the U.S. and sold to overseas customers and value of all good and services made by foreign countries and sold to customers in the U.S.
The size of the U.S. Trade Deficit as of the end of 2004 was $666.2 Billion (America’s worst ever) with China accounting for about 90% of our current trade deficit. In essence China is loaning the U.S. massive sums of money to purchase their products.
What’s $1 Billion?
A person would have to spend $50,000 a day for the next 54 years, to spend $1 Billion.
As a matter of fact it would take 13,052 years to pay back our trade deficit at a rate of $100 a minute.
What about the U.S. workforce?
There are 150 Million people in the American Workforce.
There are 14.7 Million workers unemployed, underemployed or who have given up looking for work.
43.6 Million U.S. workers have no health insurance and most of the uninsured are working for a living.
There are 4,277 individuals who file for bankruptcy every day.