Our trade deficit with China just hit a new record: $42.2 billion in October, up from $40.3 billion in September. The goods deficit with China rose to $29.5 billion in October, up from $29.1 billion in September. This is the largest single monthly goods deficit with China in U.S. history. Meanwhile in the "fiscal cliff" scam the giant corporations are pushing for a "territorial tax" system that lets them off the hook for moving even more producti ...

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Our trade deficit with China just hit a new record: $42.2 billion in October, up from $40.3 billion in September. The goods deficit with China rose to $29.5 billion in October, up from $29.1 billion in September. This is the largest single monthly goods deficit with China in U.S. history. Meanwhile in the "fiscal cliff" scam the giant corporations are pushing for a "territorial tax" system that lets them off the hook for moving even more production and jobs out of the country. They already pretend they make their money overseas -- heck, Google claims they made $10 billion in Bermuda! A $40 billion trade deficit with China is $40 billion a month drained straight out of our economy. We borrow from China to pay for this, and owe China in the trillions. When you hear DC elites talk about Social Security and Medicare costing us ask them why they are not talking about this...

Authors Bio:

OpedNews volunteer from 2005 to 2013.

Amanda Lang was a wonderful member of the Opednews team, and the first volunteer editor, for a good number of years being a senior editor. She passed away summer 2014.