The US trade deficit hit a record $618 billion last year -- up 24%. And for the first time in 50 years, America imported more farm products than we exported. The President of the National Association of Manufacturers calls the numbers, "dismal."
The trade deficit forces the US to borrow money from overseas. So the US had to borrow money equal to about 5.3% of what the US produces here at home. That's above the danger point for financial gurus. Most countries have serious economic problems once they pass the 5% mark. (WashTimes)
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