America’s Trade Debt Reaches Historic High in Dangerous Development

America's Trade Debt Reaches Historic High In Dangerous Development

(AmericanProsperity.com) – There are numerous markers that show us the health of our economy and government, from Gross Domestic Product (GDP) and unemployment numbers to the US trade deficit. In February, unfortunately, the latter hit a record high according to the most recent Department of Commerce report.

On Wednesday, April 7, the Bureau of Economic Analysis released data surrounding our international trade for February of this year. The goods and services deficit, which is the difference between what we export and import, was $71.1 billion, which is $3.3 billion above January.

Jeroen Blokland, a manager at Robeco Asset Management, compared this number to past years:

In Biden’s first full month in office, our nation managed to shell out more money overseas than ever before. This means much of American income is being spent abroad rather than staying on our shores and boosting our nation’s economic health. Numbers like these remind us how important it is to support American-made products and small businesses to keep our nation and neighbors strong amidst these trying times.

~Here’s to Your Prosperity!

Copyright 2021, AmericanProsperity.com