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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (416565)	6/19/2003 9:29:53 AM
From: Skywatcher	Respond to of 769670

MORE VOODOO ECONOMICS: Current account deficit swells to record $136.1 billion in first quarter Thursday June 19, 8:53 am ET By Jeannine Aversa, Associated Press Writer WASHINGTON (AP) -- The U.S. deficit in the broadest measure of trade swelled to a record $136.1 billion in the first three months of 2003 as war tensions stoked the prices of imported crude oil and other petroleum products. The latest snapshot of trade activity reported by the Commerce Department on Thursday shows that the mushrooming "current account" deficit in the January-March quarter was 5.8 percent larger than the previous record deficit of $128.6 billion set in the fourth quarter of 2002. President George W. Bush's administration believes the way to deal with swelling trade deficits is for other countries to remove trade barriers, rather than for the United States to raise barriers to imports. That would allow U.S. companies to do business in overseas markets more freely, thus boosting American global competitiveness, the administration says. CC