Imports, Exports, Oil

You may have heard that the import to export ratio has created a trade deficit, that is 100% correct. however, i have heard a number of people say that it is because of Bush and the war. That part is mostly false.

True, we are spending more on the war, but the weapons we buy for the war come from america. that actually helps our GDP, but i'm getting off topic. In america we import roughly twice as much as we export. that's not a very good thing, unless you're not american. of the things we import petroleum (gas) is about 1/4 of that. this is a major problem, not because i'm some sort of liberal, but because we have in this country some of the richest farm land on earth. if we have the ability to stop trading with stupid terrorist and in turn grow our own gas, we fucking should.

btw, i found all of this in ch. 5 of my text book - Macroeconmics17 by McConnell Brue

>>9
even still, we used to produce 1/3 of the worlds goods. now we produce 1/8

i'm not 100% sure about this, i'm just stating some stuff i heard in class or read in the book. just pointing out that foreign competition has really increased. even if we own companies over seas, they count as america export.