Dr. Peter Morici: The ballooning US trade deficit is a principal cause of the Great Recession
Aug 11th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
On Wednesday, the US Commerce Department will report June international trade in goods and services. The trade deficit is expected to rise to $28.5 billion from $26 billion in May. The ballooning trade deficit is a principal cause of the Great Recession, threatens to stifle recovery and push unemployment above 10% through 2011.