Trade Deficit Explodes
August 12, 2010 at 15:59 PM EDT
In his recent NYT editorial, US Treasury Secretary Timothy Geithner proclaimed: Even the surge in imports, which lowered the rate of increase of G.D.P., actually reflects healthy and growing American demand. I imagine that he must then be thrilled by today’s trade report, which revealed the trade deficit swelled by $7.9 billion on the back of an [...]