This was taken from Bush's report on how great the economy is doing.
Must be the rose colored glasses.[]
You can find it on USA todays web page.
The government ran up a $319 billion deficit last year. The administration is estimating the deficit for this year to hit a record in dollar terms of $423 billion, surpassing the previous record set in 2004. The worsening picture reflects increased spending for hurricane relief and the costs of the wars in Iraq and Afghanistan, the administration says.
The president also said he would continue to push for trade deals that would make it easier for U.S. companies to sell their goods on global markets.
The United States' trade deficit soared to $725.8 billion last year, the fourth year in a row the deficit hit a record high. The country's trade shortfall with China last year came to $201.6 billion, the highest deficit ever recorded with any country.
Doug the two points you make are things that grow the economy. We pay service members whether there is a war or not. Pilots fly ,infintry trainthe navy sails.It does not cost much more.The cost is in rebuilding Iraq & that is B.S. where is the oil money that was to be used to rebuild?
Katrina is no loss the residentsdid not work ,did not pay taxes ,they live in goverment housing & live on the tax payers.The money spent rebuilding should be a short term boost.The successful will leave when their work is done.
Forget Iran, Americans Should be Hysterical About This
Nuking the Economy
By PAUL CRAIG ROBERTS
Last week the Bureau of Labor Statistics re-benchmarked the payroll jobs data back to 2000. Thanks to Charles McMillion of MBG Information Services, I have the adjusted data from January 2001 through January 2006. If you are worried about terrorists, you don"™t know what worry is.
As Merle Haggard used to sing:
"We'll all be drinkin' that free Bubble Up and eatin' that Rainbow Stew"
US manufacturing lost 2.9 million jobs, almost 17% of the manufacturing work force.
Communications equipment lost 43% of its workforce.
Semiconductors and electronic components lost 37% of its workforce.
The workforce in computers and electronic products declined 30%.
Electrical equipment and appliances lost 25% of its employees.
The workforce in motor vehicles and parts declined 12%. Furniture and related products lost 17% of its jobs.
Apparel manufacturers lost almost half of the work force.
Employment in textile mills declined 43%.
Paper and paper products lost one-fifth of its jobs.
The work force in plastics and rubber products declined by 15%.
Even manufacturers of beverages and tobacco products experienced a 7% shrinkage in jobs.
The knowledge jobs that were supposed to take the place of lost manufacturing jobs in the globalized "śnew economy"ť never appeared. The information sector lost 17% of its jobs, with the telecommunications work force declining by 25%.
Even wholesale and retail trade lost jobs.
accounting and bookkeeping employment shrank by 4%.
Computer systems design and related lost 9% of its jobs.
Today there are 209,000 fewer managerial and supervisory jobs than 5 years ago.
Gee, I guess my hunch that globalization is not a great thing all the way around wasn't hot air afterall.
But wait, I thought we as Americans are supposed to "adapt or be left behind", or "learn new skills"???? [8D] Adapt to what - the unemployment line? Learn new skills doing what - finding new ways to support a family on little to no income?
Yep, globalization is a great thing all right. [8D][:'(]
__________________
We were made by God and for God, and until you figure that out, life isn't going to make sense.
If a nation expects to be ignorant and free, in a civilization, it expects what never was and what never will be.
The government ran up a $319 billion deficit last year. The administration is estimating the deficit for this year to hit a record in dollar terms of $423 billion, surpassing the previous record set in 2004.
you need to compare the budget to gdp for a more accurate measure. current deficits are not records when you do so. remember that our economy and government is always growing and untill the government finds it difficult to borrow or crowds out private investment, there won't be much of problem. neither situration seems to be likely at this moment.
The United States' trade deficit soared to $725.8 billion last year, the fourth year in a row the deficit hit a record high. The country's trade shortfall with China last year came to $201.6 billion, the highest deficit ever recorded with any country.
and we sold them financial assets to match.whats the big deal? they want our financial assets and we must get something in return.
oh and all those numbers breaking down jobs by sectors... you need to go back and study econ 101 to understand the most basic macroeconomics you can find, the study of peaks, booms, recessions, etc. if you look at the breakdown of these numbers over the past 50 years, you will notice that there are many little peaks and dips.
you also need to realize that these are carefully picked numbers for that article and many sectors have in fact increased. just look at finance, education, health, leisure, and many other sectors.
after that you can progress on to international economics and study the effects of tariffs and quotas on consumers and producers. you will quickly realize that consumers and producers overall benefit from free trade.
Econ 101
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[8D][:'(]
