• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit

    The U.S. Commerce Department today reported that the country’s 2010 trade deficit was $497.8 billion, an increase of $122.9 billion from 2009.

    Exports increased from $1.57 trillion to $1.83 trillion, and imports increased from $1.95 trillion to $2.33 trillion.

    Increased imports are often a sign that the U.S. economy is growing. Imports typically fall during recessions and increase during economic recoveries.

    Prospects for a strong economic recovery could be boosted by extending agreements like the Andean Trade Preference Act and implementing new trade agreements with South Korea, Colombia, and Panama. The government should also reduce its budget deficit. Record U.S. budget deficits are partly financed by selling hundreds of billions of dollars in Treasury bonds to foreign buyers, soaking up money that could otherwise be used to purchase U.S.-produced goods and services.

    Posted in Economics [slideshow_deploy]

    3 Responses to New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit

    1. Pingback: Tweets that mention New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit | The Foundry: Conservative Policy News. -- Topsy.com

    2. Pingback: » Financial News Update – 02/11/11 NoisyRoom.net: The Progressive Hunter

    3. Gary Sheppard, Fento says:

      It is our trade policies that have cost us millions of jobs. Our jobs base and our tax base is being exported. It is time for effective tariffs, not more poorly constructed trade aggrements.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×