U.S. current account deficit record $166B (CBS Marketwatch)

[cthrumatrix]

ECONOMIC REPORT

U.S. current account deficit record $166B

By Rex Nutting, CBS.MarketWatch.com
Last Update: 8:31 AM ET Sept. 14, 2004


WASHINGTON (CBS.MW) - The U.S. current account deficit widened to a record $166.2 billion in the second quarter from $147.2 billion in the first quarter, the Commerce Department estimated Tuesday.



The deficit increased to a record 5.7 percent of gross domestic product during the quarter.

The current account deficit is the broadest measure of the nation's economic balance sheet with the rest of the world. It encompasses both trade and capital flows.

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http://cbs.marketwatch.com/news/print_story.asp?print=1&guid={1DE3EB6D-AD73-4410-9853-B85DFC895525}&siteid=mktw


I'm waiting for the WH to blame THIS on Clinton as well. He did it from his hospital bed.

[cliss]

1. wow. This is staggering.

We don't need terrorists. We're going to finish the job, all by ourselves.

[The_Casual_Observer]

2. deficit increased to a record 5.7 percent of gross domestic product

This is new. The talking heads always pint to the fact that the Reagan deficits were bigger, however the Iraq war is off the budget also I think.