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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?


To: Mannie who wrote (7158)2/11/2005 11:17:59 AM
From: SiouxPal  Read Replies (1) | Respond to of 361250
 
What does De Ficit mean?
By Martin Crutsinger / Associated Press

U.S. Trade Deficit Hits All-Time High

WASHINGTON - The U.S. trade deficit ballooned to an all-time high of $617.7 billion last year, pushed by soaring oil prices and Americans' insatiable appetite for everything foreign, from cars to toys and food.

The Commerce Department reported Thursday that the 2004 imbalance rose 24.4 percent from the previous year and marked the third year in a row that the deficit had set a record. The imbalance with China swelled by 30.5 percent to $162 billion, the highest ever with any country.

For December, the deficit actually shrank. But at $56.4 billion, it still was the second worst monthly showing ever, down 4.9 percent from $59.3 billion in November.

Democrats said the figures were evidence that President Bush's policy of seeking trade deals was not working. They said the 2.7 million manufacturing jobs the United States has lost over the past four years reflect in large part unfair trading practices by China and other countries.

Sen. Byron Dorgan, D-N.D., said the report was "devastating news for the American economy." House Democratic leader Nancy Pelosi of California said the deficits were undermining the U.S. manufacturing base.

Added John Sweeney, the AFL-CIO's president: "America is losing good jobs due to bad trade deals."

Sen. Charles Schumer, D-N.Y., said the imbalance with China showed the need for his legislation that would impose across-the-board tariffs of 27.5 percent on Chinese products unless Beijing stopped tightly linking its currency, the yuan, to the U.S. dollar.

American manufacturers says this policy has undervalued the yuan by as much as 40 percent, giving Chinese companies a huge competitive advantage.

Treasury Secretary John Snow told Congress on Thursday that he believed the administration's efforts to prod China to develop a more flexible currency system were bearing results.

America's major trading partners, he said, had to grow faster and the United States must work to boost national savings in order to dampen excess demand that is being met by foreign goods.

"It sure would be helpful if Japan and our other trading partners would grow faster," Snow said.

Private economists said the country's low savings rate was worsening because of the government's record budget deficits. They predicted the trade deficit for 2005 would set a record, but that the deterioration would begin to slow and lower deficit would result in 2006.

"The nation is hemorrhaging red ink and we are seeing the worst of it right now," said Mark Zandi, chief economist at Economy.com. "The trade deficit should stabilize this year and with a little bit of luck, it should start to improve in 2006."

For all of 2004, U.S. exports of goods and services rose 12.3 percent to $1.15 trillion. But imports rose at an even faster clip of 16.3 percent, setting a record of $1.76 trillion.

The demand for foreign goods was led by a 35.7 percent surge in foreign petroleum imports, which climbed to a record $180.7 billion. The increase reflected not only higher demand but also surging prices. For the whole year, the average per barrel price for imported crude was $34.47, compared with $26.98 in 2003.

Imports of foreign autos, industrial supplies and consumer goods all set records. So did imports of food products, which climbed to $62.17 billion.

U.S. exports of food products reached a record $56.3 billion. But because U.S. shipments abroad were lower than imports, the country recorded a $5.9 billion deficit in food. It was the third straight annual deficit in agriculture, which had been an important source for helping narrow the deficit in manufactured goods.  

U.S. exports did climb to an all-time high. Shipments of U.S. food, autos and consumer goods set records, helped by a 15 percent decline in the value of the dollar over the past three years. A weaker dollar makes U.S. products cheaper and thus more competitive on overseas markets.

The deficit with China was up from a record of $124.1 billion. The United States also saw large increases in the deficits with Japan, at $75.2 billion, Canada at $65.8 billion and the 25-nation European Union, where the deficit rose to $110 billion.



To: Mannie who wrote (7158)2/22/2005 7:11:59 PM
From: Wharf Rat  Read Replies (1) | Respond to of 361250
 
Seattle dreams of 'green' team
Mayor urging other U.S. cities to enact Kyoto Protocol

By KATHY MULADY
SEATTLE POST-INTELLIGENCER REPORTER

The U.S. government may have turned its back on the Kyoto Protocol, but Seattle Mayor Greg Nickels said yesterday he plans to spearhead a city-by-city effort to implement the climate-protection measures that went into effect in more than 100 other countries yesterday.


Nickels said he is gathering support from mayors in other cities and plans to build a "green" coalition of his counterparts at the U.S. Conference of Mayors when the group meets in Chicago in June.

"Seattle, along with other U.S. cities, will provide the leadership necessary to meet this threat," Nickels said.

He plans to introduce a resolution at the mayors conference setting up the coalition for other cities to join. To be eligible, cities would have to agree to certain steps to lower greenhouse gas emissions. The details of the resolution are still being worked out.

The Kyoto Protocol was hammered out in Kyoto, Japan, in 1997 and commits countries to reduce or limit the output of six gases, chiefly carbon dioxide, a byproduct of burning coal and oil products.

By 2012 the European Union, for example, is to reduce emissions by 8 percent below 1990 levels and Japan by 6 percent.

The United States had envisioned a 7 percent reduction, signed the protocol in 1997, but in 2001, President Bush renounced the agreement, saying compliance would cost millions of U.S. jobs.

In the meantime, many cities across the country, including Seattle, have adopted the Kyoto Protocol standards, or set even higher goals.

When the city of Seattle adopted the Kyoto Protocol four years ago, while Paul Schell was mayor, it joined nearly 100 other U.S. cities in setting reduction targets.

The 2001 resolution called for dramatically reducing greenhouse gas emissions by the city, and calling on national leaders to support targets at least as aggressive as those described in the Kyoto Protocol.

Nickels said he will work with the state Legislature to pass the clean-car bill, requiring stronger emission standards for cars sold in Washington. The legislation is based on a similar law adopted in California.

Nickels has also directed city departments to reduce paper use 30 percent by the end of 2006 and said that global warming will be a consideration in doling out neighborhood matching fund grants.

Yesterday, Nickels also announced a commission on climate protection that will be led by Denis Hayes, founder of the first Earth Day and president of the environmentally focused Bullitt Foundation. Orin Smith, president of Starbucks Coffee Co., also will lead the committee.

In making his announcement yesterday, Nickels was flanked by Hayes and Steve Howard, chief executive of the Climate Group, a non-profit based in London dedicated to slowing greenhouse gas emissions.

Hayes described the effects of global warming that are already being seen in Europe. He described small indicators such as bees that no longer hibernate and a 2003 heat wave that killed thousands in Europe.

"Early movers like Seattle have a farsighted advantage in taking a leadership position," Howard said. "It is good for business, good for the community and good for the world."

Some see evidence of global warming in the Pacific Northwest where the snowpack provides water, hydroelectricity and irrigation. According to reports, the Cascade snowpack is down 50 percent since 1950.

The city of Seattle government has reduced its emissions 60 percent since 1990, said Steve Nicholas, director of the city's Office of Sustainability and Environment. The city required more fuel efficiency in its cars and attempted to reduce the number of trips taken.

However, communitywide it is a different story, according to a report by the Puget Sound Clean Air Agency.

By 2010 emissions are expected to increase 21 percent above the 1990 number, and by 38 percent by 2020.

About 50 percent of those emissions come from vehicles.

Councilwoman Jean Godden, head of the city's energy and environmental policy committee, was in Olympia yesterday to testify in support of the proposed clean car legislation. The bill calls on manufacturers to dramatically reduce car emissions by 2012.

"Interestingly enough, by doing that it could save people about $18 a month in gasoline costs," Godden said.

She said she is excited about Nickels' plans.

"As we know, the council adopted the Kyoto Protocol in 2001, and now the mayor has taken it a step farther and is challenging other cities to do the same," she said. "I am very excited, we are going the right direction and setting the standard. "

Councilman Richard Conlin, who was also in Olympia yesterday, called Nickels' announcement "great."

"All of those things are wonderful; we are glad to have him on board," Conlin said.

K.C. Golden, policy director for Climate Solutions, said Seattle is well positioned to set the standard for other cities.

"This was ground zero for the information revolution, we have more than our share of the world's innovators here," he said. "Our contribution to the solution can be bigger than our contribution to the problem."

Mayors in some other cities have already pledged to work with Seattle.

In a statement, Portland Mayor Tom Potter said his city was the first in the country to adopt a policy for reducing greenhouse gas emissions.

"We are proud that the people of Seattle share our vision for turning the crisis of global warming into an opportunity to transform our economy and leave a healthier planet for our children and grandchildren," he said.

Mayor Jerry Brown of Oakland, Calif., added his support. Oakland has set a goal of 15 percent reduction by 2010.

seattlepi.nwsource.com