NEW YORK ( TheStreet) -- The Commerce Department reported the May deficit on international trade in goods and services jumped to $45.0 billion from billion $40.1 billion in April. Overall, the deficit is up from $25 billion when the economic recovery began in mid-2009, and poses the most significant barrier to stronger economic growth.Household spending has recovered but too many of those dollars still go to pay for imported oil and consumer goods from China and cars from Japan. While consumer spending is up 16%, the trade gap has jumped more than 35%.
Morici: Obama Appeasement of China, Japan Wrecking Recovery
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