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To: 1rudeboy

WIKIPEDIA
http://en.wikipedia.org/wiki/Balance_of_trade#United_States_trade_deficit

United States trade deficit

The United States of America has held a trade deficit starting late in the 1960s. It was this very deficit that forced the United States in 1971 off the gold standard. Its trade deficit has been increasing at a large rate since 1997 [34] (See chart) and increased by 49.8 billion dollars between 2005 and 2006, setting a record high of 817.3 billion dollars, up from 767.5 billion dollars the previous year.[35]

It is worth noting on the graph that the deficit slackened during recessions and grew during periods of expansion. Also of note, many economists calculate trade deficits and/or current account deficits as a percentage of GDP. The US last had a trade surplus in 1991, a recession year. Every year there has been a major reduction in economic growth, it is followed by a reduction in the US trade deficit.[23] The investor Warren Buffett has proposed a tool called Import Certificates as a solution to the United States’ problem.[36]


118 posted on 10/07/2009 5:17:59 PM PDT by dennisw (It's not called the Wheel. It's called the Carousel.)
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To: dennisw

You said we had trade surpluses prior to 1982. So when was the last trade surplus, and how many years did it run, Wikipedia genius?


119 posted on 10/07/2009 5:28:59 PM PDT by 1rudeboy
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