Debt rises

The U.S. trade deficit rose from $68 billion in July to $69.9 billion in August (a rise of 2.7 percent), on course to set a new record. As of the end of August, the deficit totalled $784.2 billion, 9.4% higher than a year ago. High oil prices, which have pushed up petroleum import costs, and ...

606649_BushPraying5.jpg
606649_BushPraying5.jpg

The U.S. trade deficit rose from $68 billion in July to $69.9 billion in August (a rise of 2.7 percent), on course to set a new record. As of the end of August, the deficit totalled $784.2 billion, 9.4% higher than a year ago. High oil prices, which have pushed up petroleum import costs, and the politically-charged trade deficit with China, aided in setting this new monthly record. These figures have given fuel to the Democrats in the run-up to the mid-term elections, who argue that the Bush administration's mishandling of trade and economic issues is just another reason to give them the boot.

The U.S. trade deficit rose from $68 billion in July to $69.9 billion in August (a rise of 2.7 percent), on course to set a new record. As of the end of August, the deficit totalled $784.2 billion, 9.4% higher than a year ago. High oil prices, which have pushed up petroleum import costs, and the politically-charged trade deficit with China, aided in setting this new monthly record. These figures have given fuel to the Democrats in the run-up to the mid-term elections, who argue that the Bush administration’s mishandling of trade and economic issues is just another reason to give them the boot.

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