Posted on 01/07/2014 9:53:50 AM PST by SeekAndFind
WASHINGTON — U.S. exports rose to a record high in November, helping to shrink the nation's trade deficit to the lowest in four years.
The surprisingly positive trade report Tuesday adds to the upbeat outlook for the economy. With net exports stronger than expected, analysts revised higher their economic growth forecast for the fourth quarter, saying it will likely come in at a solid annual rate of about 3%.
(Excerpt) Read more at latimes.com ...
And for those of you who worry about China, here’s more news on the trade deficit:
EXCERPT:
The US deficit with China fell 6.7 per cent in November from October to $26.9 billion. US exports to China hit a record. The US deficit with China, the largest with any country, is still on track to set another record this year.
The deficit with the European Union dropped 29.4 per cent in November to $10.1 billion. That reflected a big drop in imports from that region, which offset a small dip in US sales to Europe.
Read more at:
http://economictimes.indiatimes.com/articleshow/28522147.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
The fools in this country voted for him, and they got exactly what they were told would be the result.
AND AGAIN FROM THE ECONOMIC TIMES:
A domestic energy boom has boosted exports and lessened America’s dependence on foreign oil. US petroleum exports were up 10.8 per cent through the first 11 months of 2013 compared with the same period in 2012. In that same period, petroleum imports have fallen 11.5 per cent.
Read more at:
http://economictimes.indiatimes.com/articleshow/28522147.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Time to borrow more money and spend more. Increase unemployment insurance to 599 weeks, raise the minimum wage to $26.50/hour, forgive all student debt and fully equip all local police forces to paramilitary status.
RE: The fools in this country voted for him, and they got exactly what they were told would be the result.
Hmmm.... you write as if a falling trade deficit is bad news.
A big FRACKING deal.
More oil production, less oil imports and less trade imbalance.
I don't credit Obama with that but I don't understand your comment on this thread for this topic.
Maybe he was talking about Obama’s efforts to slow production.
This is happening in spite of 0bama's policies not because of them.
One can only imagine the boom that would happen if we had a pro-growth, pro-capitalism and pro-constitutional president and congress instead of what we're saddled with.
This is happening in spite of 0bama’s policies not because of them.
.............
this is correct. Moreover, oil revenues to the federal government are pushing down the federal deficit which went from 1 trillion in 2012 to 650 billion in 2013.
Likely the deficit in 2014 will be somewhere in the 400 billion range.
...........
In short what’s happening now is much like what happened under clinton. the booming stock market (plus low oil prices) fueled revenues to the government while republicans under newt kept federal spending from rising. —ie they did not actually cut the budget.—But that was enough. rising revenues to the federal government plus no increase in spending caused the federal budget to balance in clinton’s last year.
A balanced budget was clinton’s legacy—even though he fought like hell to keep that from happening and smeared newt for making it happen.
Right now the current trajectory of events in the same direction for Obama. I hate it but there you are.
Correctamundo!
Americans working less and buying less.
You mixed up your figures, you need to extend unemployment for 2650 weeks and raise the minimum wage to $599./hour.
A good dose of reality with the good news. Any time the Opecker Princes take a whack like this, that is good news for us. Thanks for your excellent reply/summation:
“This is happening in spite of 0bama’s policies not because of them.
.............
this is correct. Moreover, oil revenues to the federal government are pushing down the federal deficit which went from 1 trillion in 2012 to 650 billion in 2013.
Likely the deficit in 2014 will be somewhere in the 400 billion range.
...........
In short what’s happening now is much like what happened under clinton. the booming stock market (plus low oil prices) fueled revenues to the government while republicans under newt kept federal spending from rising. —ie they did not actually cut the budget.—But that was enough. rising revenues to the federal government plus no increase in spending caused the federal budget to balance in clinton’s last year.
A balanced budget was clinton’s legacy—even though he fought like hell to keep that from happening and smeared newt for making it happen.
Right now the current trajectory of events in the same direction for Obama. I hate it but there you are.”
Someone whose name escapes me at the moment recently predicted that Obama would go down as our greatest president, IN SPITE OF HIMSELF, the prediction was based on all the benefits to be gained from new technology and vastly increased oil production in this country which was forecast to create a new boom unimaginable to most of us. Maybe he is right?
We all know that if that boom happens Obama will claim and be granted the credit for it. Only a small percentage of Americans realize that he has done nothing I can name to bring about anything but a disaster. FDR is still credited with ending the great depression even though all evidence indicates that he did more than anyone else to prolong it and very little if anything that had anything to do with ending it.
FDR and BJ Clintoon are two examples of America surviving inspite of their lack of leadership and the democrat controlled congresses (for a while with Clinton).
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