The U.S. trade deficit worsened slightly in December, capping off a year that saw the shortfall rise nearly 18% to a record $725.76 billion. Deficits with China, Europe and a host of other markets reached all-time highs.
Want to address the real challenge of our generation? How about investing in the people to bring the intelligence and creativity that raised the U.S. to the pinnacle of the global economy after the Second World War. Instead of cutting education spending (while saying the opposite in his SOTU speech), President Bush should be diverting every spare dollar into education in order to brace America for ever-increasing economic competition. There’ll be little to protect from terrorists at the rate Mr. Bush is going.