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Balanced Trade, Free Trade, and the US Trade Deficit

US Trade Deficit:

The difference between import and export value of goods and services will be the determining factor in our nation's eventual economic prosperity or failure.


The Trade Deficit in 2008 totaled $696 Billion according to US Trade Deficit Government Reports.


In order to put that trade deficit number into proper perspective:

  • Total Federal intake in taxes for 2008 was $2524 Billion
  • Total Federal deficit spending in 2008 was $458 Billion
  • Total Petroleum Importation for 2008 $386 Billion. (Yes, oil that we could have been supplying for ourselves from within the US.

(Reference www.taxpolicycenter.org)

Top Ten US Trade Deficit Imbalances

Reference Census.gov

Country Trade Deficit 2008 Country Trade Deficit 2007 Country Trade Deficit 2006
China $-266 Billion China $-256 Billion China $-233 Billion
Canada $-75 Billion Japan $-83 Billion Japan $-88 Billion
Japan $-73 Billion Mexico $-74 Billion Canada $-73 Billion
Mexico $-64 Billion Canada $-65 Billion Mexico $-64 Billion
Germany $-43 Billion Germany $-45 Billion Germany $-48 Billion
Saudi Arabia $-42 Billion Nigeria $-30 Billion Venezuela $-28 Billion
Ireland $-23 Billion Venezuela $-30 Billion Nigeria $-26 Billion
Italy $-21 Billion Saudi Arabia $-25 Billion Malaysia $-24 Billion
South Korea $-13 Billion Malaysia $-21 Billion Ireland $-21 Billion
Taiwan $-11 Billion Italy $-21 Billion Italy $-20 Billion


Clearly, US trade deficit and US trade policies present serious problems to our economic future.


The Following is Commentary Courtesy of US Patriot: Captain Ron Caraway of Houston, TX


The balance of trade deficit it totally out of hand because neither Republicans nor Democrats seem to care to act to produce a BALANCED TRADE.

FREE TRADE has been championed by both parties. This is NOT working. We need a BALANCED TRADE.

This is not an easy task but can only be done by the government, not the individual American. There are several ways this can be done.

  • One of course is by imposing import taxes.
  • Another would be government incentives to industry to return to the USA. Very little is produced in our country even though it may have been invented here.
  • Some of the incentives could be in the form of tax reductions, or grants, or 0 % interest government loans.

A combination of all the above would be good also. Put import taxes on items that could be produced HERE, give incentives to Companies to produce those items here. TV's, Furniture, automobiles, motorcycles, Cell phones, computers, dishes, cutlery, sewing machines, anything and everything....We simply cannot afford FREE TRADE.


What will the Chinese do with all the money we are giving them since we do not sell them anywhere near as much as we buy from them they are left with Billions of excess dollars? The only thing they can do with all that money is to:

  • Lobby congress for more favors
  • Buy up what companies there are still here in the USA
  • Buy up our office buildings
  • Buy up our big farm lands


In short we are selling America to China.


WE must put representatives in Congress who will act in the interest of Americans.

I am one who would be willing to serve or to help someone else in this quest.

I am a retired Airline Captain and have lived in other countries, Mexico, Honduras, Costa Rica, Germany, and Australia.

I also speak Spanish, though am 100% American born.

My family tree dates back to 1634 when the first Caraway came to America from England.

Captain Ron Caraway

Houston, Texas



The Captain’s concern is not some distant fear for the fate of future generations.

He recognizes that we have reached the breaking point for our economy with regards to US trade deficit in this lifetime and that only immediate changes in domestic and international commerce policy will divert conditions that will turn this economic stall into an unrecoverable spin with the associated uncontrollable downward spiral.