Chimpy Thinks The Economy Is A Great Issue for the GOP

Betcha he doen’s want to talk about thetrade deficit.

America’s trade deficit hit an all-time high as record imports of oil swamped a solid gain in U.S. exports. The politically sensitive deficit with China set a record, a point that Democrats are sure to use in attacking President Bush’s trade policies in the closing weeks of the battle for Congress.

The deficit rose to $69.9 billion in August, up 2.7 percent from July’s $68 billion deficit, which had also been a record. The sharp deterioration in the deficit in recent months has occurred because soaring global oil prices have pushed America’s foreign oil bill to historic highs.