Trade Deficit Widened

Trade Deficit Widened to Record $71.1 Billion in Biden’s First Full Month - Brietbart

Economists had forecast a trade gap of $70.4 billion. The January gap was revised down from $68.2 billion to $67.8 billion. Both imports and exports fell in the month but the pace of the decline of exports was much swifter, enlarging the deficit. Imports fell seven-tenths of a percentage point but remain near record highs. Exports fell 2.6 percent.

The trade in goods deficit rose by $2.8 billion to $88 billion. The services surplus shrank $500,000 million to $16.9 billion.

U.S. exports have been hurt by the return off lockdowns and slumping economies across the globe, particularly in Europe. American spending has been bolstered by the strength of the U.S. economy, enhanced unemployment benefits, and stimulus payments—and a large portion of that spending is leaking out to foreign producers through imports.

This is an absolute disaster and tragedy to put this sort of debt on the future generations of America’s children. We pray for improved leadership to come quickly! We pray God will raise up new and fresh leaders as He has never have before and give them the supernatural strength to make it into these positions where they can effect needed change from the careless ineptitude that is currently destroying our economy.

May God send revival to our land.

May God bless the United States of America.