http://www.erichaller.com/2006/02/28/economic-report-of-the-president/ the central clearinghouse for all things eric haller Sun, 11 Jul 2010 18:42:44 +0000 hourly 1 http://wordpress.org/?v=3.0 http://www.erichaller.com/2006/02/28/economic-report-of-the-president/comment-page-1/#comment-11224 eric haller » credit card’s maxed out again, dude Wed, 15 Mar 2006 09:28:30 +0000 http://www.erichaller.com/2006/02/28/economic-report-of-the-president/#comment-11224 [...] USD$8.28 trillion. your share, if you are lucky enough to be an american, is $27,713.58. (well by the time you read this it will have gone up). luckily that swelling debt is being spent making our country stronger, safer, smarter and more competitive. how do i know? i saw it printed on a huge sign behind president bush when he was extolling the virtues of staying the course. oh yeah, and the current account deficit went up 20% in the fourth quarter of 2005. (or as they like to say around the white house these days, the capital account surplus went up 20%). Total US exports are just 10.5 per cent of GDP. In order to eliminate the deficit, exports would need to increase by 70 per cent. ‚ÄúThis is clearly not going to happen,‚Äù said Mr Ashworth. ‚ÄúInstead it will require a big dollar depreciation alongside much weaker domestic demand for imports.‚Äù [...]

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