Costly Oil Pushing Deficit........UP

Monday, September 18, 2006 at 08:37 AM

File this under "we sort of knew that", but the hard data is all the same........

Check it out:

Economists consider the huge US trade imbalance and its sizeable deficits with oil exporting countries and Asian nations such as China and Japan as one of the global economy's major problems.

The International Monetary Fund recently warned that a slowing US economy could hamper global growth next year.

Well, it does make sense, duh. We import goods as well as oil. That money doesn't always come back. Would someone explain this to The Texas Hat?