With a strong domestic economy, low national unemployment at 5 percent, and increasing retail sales, the picture should look rosy. But one look at the trade deficit changes all of that.
Sentiment: NEGATIVE
If you look at the US economy over the last 15-20 years wages have been stagnating or even declining.
That level of trade deficit throttles real growth in our country and continues the unfortunate path of selling out America. We are not winning the global trade war, we are losing it badly.
Well, our economy is very strong and growing. We have created 5.4 million new jobs in the last 3 years. Our unemployment rate is better than the average unemployment rate of the 1960s, 1970s, 1980s, and 1990s.
When you look what is happening in this country with the debt, the deficit, the CBO coming out and saying once again we're going to have a trillion dollar plus deficit in 2012, the fourth straight year, and unemployment may be going back up to 8.9 or maybe nine percent by the end of the year, these are serious situations that are going.
The more competitive value of the dollar turned around the trade deficit.
The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.
It is clear that the economy has not gotten better for everyone.
We do see significant signs of a slowdown, in the economy worldwide.
The president's economic plan doesn't do enough to create new jobs and that has to be a national priority. While there are some signs the economy is improving, it is not translating into jobs.
After several trillion dollars of stimulation by the Obama Administration and the Fed, one might think the economy would be chugging along at a pretty good clip. But, it just isn't so, and the light at the end of the tunnel is pretty dim. Just ask a small business owner.
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