] The current account trade deficit is closely watched by
] economists because it is the broadest measure of
] international trade, covering not only trade in goods but
] also trade in services and investment flows between
] nations. The deficit for 2004 was not only a record in
] dollar terms but also as a percentage of the total U.S.
] economy, climbing to 5.7 percent of the gross domestic
] product, up from 4.8 percent of GDP (news - web sites) in
And the bleeding continues. Something else of note, elsewhere in the article they make the point that the dollar has been on a three year slide, meaning foreign goods are getting more expensive, yet the trade imbalance continues to grow. Something in that says there is a huge problem.
"Don't cry for me Argentina..."
Trade Deficit at All-Time High of $665.9B