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This year Americans will spend over $1 billion on Christmas ornaments from China.
That the U.S. Christmas is made in China is a metaphor for a far deeper set of economic issues affecting the United States. Today Christmas is celebrated in both the United States and China - but for different reasons and with far different economic consequences.
The U.S. trade deficit is growing by leaps and bounds, nearly doubling from $452 billion in 2000 to an estimated $850 billion in 2006. Rising oil imports and the trade deficit with China account for over half of it.
Originally posted by marg6043
While this sound great for our trading partners the truth is that we are falling a deep hole, as we become a nation of consumers and big spenders.
Our credit cards keep filling up and we are borrowing from our children’s future and getting them into the deficit hole.
Originally posted by rocknroll
I dream of a day when I can pick something up, flip it over, and it says "Made In USA".
Hey, when I was a little kid in the 1960's everything said "Made In Japan".
Does anyone remember that?