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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Lizzie Tudor who wrote (3016)1/2/2004 3:13:36 PM
From: DizzyG  Read Replies (1) of 90947
 
So tell me...

What US deficits are you speaking of? The Federal Budget deficit? Or are you speaking of the US Trade deficit?

While the Federal Budget deficit does have an impact on the value of the dollar, the REAL culprit is the US Trade deficit. Please note:

The biggest single factor in the dollar’s fall has been the soaring deficit in US trade. The United States imports far more than it exports in goods and services. US consumers have a strong appetite for Japanese automobiles, Chinese clothing, German machinery and Finnish mobile phones. Oil imports, by far the largest item, grow steadily. US companies are not able to export products and services of the same value. While Microsoft, Coca Cola, Boeing and Hollywood may wrack up large earnings and gain high visibility for US exports, they simply cannot match the foreign products and services purchased by US companies and consumers. In 2002, imports of goods and services totaled $1,652 billion, while exports amounted to only $1,203 billion (see chart). The difference is made up by net foreign lending and investments.
globalpolicy.org

So, are you trying to tell me that President Bush's policies caused the huge trade deficit? The real culprit for the HUGE trade deficit has been Washington's policy for a propping up the dollar. I bet you can't guess who's presidential administration created that policy can you?

Diz-
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