The Perils of Importing More than We Export

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The Perils of Importing More than We Export

by Thomas Heffner
The United States continues to import more, and export less each year, while our production levels drop and we continue the sell off our large companies to foreign interests. As a result, tax revenue has receded and we now have fewer American owned companies remaining to produce wealth and generate taxes. Our government, already drowned in foreign debt, must continuously borrow more to operate and pay its bills.

This cycle of debt enlargement has impacted every level of our economy. Government debt is now more than $13 trillion. That represents an increase in debt of $4.12 billion per day. The 2007 balance of trade deficit (debt) was $731 billion, while China made a $371 billion profit during the same year. In 2009, the trade deficit was $375 billion, an improvement, but still completely unacceptable. Our current trade deficit for 2010 already quickly approaches $280 billion, and it increases at approximately a rate of $14 million per second. At this rate our trade deficit by the end of 2010 will be roughly $475 billion, an increase to the 2009 deficit by $100 billion.

The following figures represent the balance of trade deficits per year from 2001-2009. It is through these means that foreign interests buy us out.


2004 - $611 billion = $1,200,000 per minute


2005 - $711 billion = $1,400,000 per minute


2006 - $765 billion = $1,450,000 per minute

2007 - $702 billion = $1,350,000 per minute

2008 - $699 billion = $1,330,000 per minute

2009 - $375 billion = $713,500 per minute

http://www.economyincrisis.org/content/perils-importing-more-we-export