What is your reaction to the May imports up 11.3% led by rice, oil trade; trade deficit?

Question

can u please give your reaction or comments about this issue...

May imports up 11.3%, led by rice, oil; trade deficit widens ...

Answer 1

Why would we ever import food? There is just no need. It must be a backroom deal just to make globalization (work). We are so screwed.

Answer 2

Running a Trade Deficit is a literal definition of exporting your currency in exchange for widgets. And the end result will be the transfer of US wealth to everybody else in the world until we reach of breaking point of being broke. At which time our nation will crumble under an economic burden that can never be repaid.  The same thing happened to Rome and all other empires in the past.

We need to mandate a floating tariff system in which all imports are tariffed across the board (so no one item is singled out) to raise the cost of importing as to keep it balanced with our exports. At the same time, we need to draft an Amendment to the Constitution which states that the Congress MUST balance the budget every year with an exception for War, National Emergency, or Natural Disaster.

Because obviously political bickering and pet pork projects will never allow for a balanced budget to exist. The politicans rather send the repayment bill to our children and their children for all eternity.