What’s the old saying about hose who cannot learn from history? Well, here we go again.
In the news: Oil, Chinese imports boost U.S. trade deficit,
Growing imports of oil and Chinese goods pushed the U.S. trade deficit to its highest level in 15 months in March.
The Commerce Department said U.S. exports totaled $147.9 billion in March while imports registered $188.3 billion to create a $40.4 billion trade deficit, up from a revised $39.4 billion gap in February.
A March trade deficit of $40 billion. The “new normal” is the old normal. Borrow and borrow. Send jobs overseas. Trade our dollars for oil from dangerous regions.
But hey, the stock market’s up, Wall Street is paying big bonuses — and paying lobbyists to keep things just as they are.
And unemployment, adding in the “under”employed, is “only” 17.1% — about 26 million people.
So things are fine. Back to “normal.”