SavingsThe U.S. income surplus increased to $127.6 billion in 2008 from $81.7 billion the previous year
SavingsThe Commerce Department reported that the current account deficit, which includes investment flows and other transfers as well as trade, dropped 7.9 percent to $673.3 billion in 2008 from $731.2 billion in 2007.
LeadershipWhen President Obama was first inaugurated on Jan. 20, 2009, the debt of the U.S. government was $10,626,877,048,913.08, according to the Treasury Department’s Bureau of the Public Debt. As of Jan. 31, 2014, the latest day reported, the debt was $17,293,019,654,983.61—an increase of $6,666,142,606,070.53 since Obama’s first inauguration.
BudgetA declining jobless rate hat’s lifting individual and corporate tax revenue will help narrow the gap next year to about a third of the record $1.4 trillion deficit reached in 2009, according to CBO data. The report today shows a fiscal picture that’s improving in the near term before starting to deteriorate, with deficits swelling again starting in 2018.
TradeIt’s no secret the United States has alarming trade deficits with a number of countries, but with no country on Earth is our trade more unbalanced than with China. In 2013, our trade deficit with the Chinese was $318 billion.
BudgetThe projected shortfall will be $506 billion in the 12 months ending Sept. 30, compared with an April prediction for $492 billion and a $680 billion gap posted last year, the nonpartisan CBO said today in a report. In 2015 it’s projected to shrink for a sixth straight year, to $469 billion.
TradeThe overall U.S. trade deficit unexpectedly shrank a bit less than 1 percent in July from June. It was the smallest gap in half a year, and exports broke a record.
TradeThe U.S. deficit in manufacturing set a montly record, and the deficit in goods traded with China also broke a record