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Title: Biden Leaves Office With All-Time-Record US Trade Deficit In December
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URL Source: https://www.zerohedge.com/economics ... cord-us-trade-deficit-december
Published: Jan 29, 2025
Author: Tyler Durden
Post Date: 2025-01-29 09:30:49 by Horse
Keywords: None
Views: 16
It wasn't just his approval rating that was at a record low when President Biden left office; data from the Commerce Department today shows that Biden's last month in office saw the US merchandise-trade deficit widen to a record low (high). The shortfall in goods expanded 18% to $122.1 billion... Breaking down the details: Imports grew nearly 4% to $289.6 billion. Exports decreased 4.5% to $167.5 billion. Additionally, the Commerce Department report showed retail inventories slid 0.3% last month, the first drop in a year. Inventories at car dealers fell 1.2%, marking the third straight decline after more than two years of gains. Stockpiles at wholesalers declined 0.5%. The figures suggest trade will be a bigger drag on fourth-quarter gross domestic product, which will be reported on Thursday. Prior to the data, the Atlanta Fed’s GDPNow forecast had net exports barely adding to GDP and inventories subtracting 0.23 percentage point. US manufacturers remain challenged by weak overseas economies and a strong dollar that risk keeping the trade gap wide this year. Poster Comment: Republican Congressman Introduces FIZZ-NO Act To Nuke Soda From SNAP Ahead of Robert F. Kennedy Jr.'s confirmation hearing for the role of Secretary of Health and Human Services, set to begin on Wednesday, the "Make America Healthy Again" movement gained momentum with a new bill called the "Zero for Zero Nutrition Options" (FIZZ-NO) Act, that was introduced by Rep. Keith Self (R-TX). On Tuesday, Congressman Self's office published a press release detailing how the FIZZ-NO Act is a major effort to improve public health and reduce taxpayer costs by eliminating soda from the Supplemental Nutrition Assistance Program (SNAP). https://www.zerohedge.com/medical/ruh-oh-pepsi-republican-congressman- introduces-fizz-no-act-nuke-soda-snap 
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