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US imports decline on local demand

South America News.Net
Saturday 10th May, 2008

There has been a record drop in US imports because of slowing domestic demand.

According to the US Commerce Department, the trade gap has shrunk 5.7 per cent in March to US$58.2 billion.

The decline reflected another strong month of US exports and a record US$6.1 billion drop in imports to US$206.7 billion, which showed the US slowdown has taken a toll on consumer and business demand for foreign goods.

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Comments on this story

Anonymous
05-11-08, 12:58 AM

To get an idea what your household pays for security against foreign threats, install a parking meter in your living room, and insert a quarter every twenty minutes, 24/7. This amount – about $500/month – is what the government spends, per household, on military-related budgets including veterans’ benefits and homeland security expenses. It will not bankrupt us, but it is a substantial cost.
If you wanted to pay it off, dividing it equally among the U.S. population (estimated by the U.S. Census Bureau to be 302,103,675), it would come to $29,245.82 for every man, woman and child.
It took the Federal Government 225 years to accrue $5.5 trillion in debt under 42 U.S. presidents. But under President Bush alone, it has soared another 35.2%.
This year alone, it costs taxpayers $247.3 billion in interest payments.
It should be noted that as a percentage of the nation’s Gross Domestic Product, the National Debt is 67.9%. That’s up from 57.4% the year Pres. Bush took office. It
was in the 67% range some of Bill Clinton’s presidency as well – and he actually produced a federal budget surplus in each of the last three years of his term in office.

Anonymous
05-11-08, 12:44 AM

I hope you recover so you can pay your DEBT to the world for your war on terror

Anonymous
05-10-08, 08:43 PM

US imports decline on local demand

Would you believe that a locally produced item can be SIX TIMES more expensive that an imported Item, BUT STILL CHEAPER for the local economy. This is due to the velocity of money.. Looks like Amercian economy is on the raod to recovery if they start buying their own goods.. Lets see if the corporate bean counters see the numbers and start investing back in your own ecomony.


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