Ohio & Michigan's Oldest and Largest Latino Newspaper

Since 1989




    media kit    ad rates    classified ad rates    about us    contact us


La Prensa Home

Upcoming Events

La Prensa Photos

La Prensa Links

LatinoMix Radio

La Prensa Scholarships

Directory of Latino Businesses and Services

La Prensa Obituaries

La Prensa Classifieds

Past La Prensa Stories

Submit a Letter to the Editor

La Liga de Las Americas

Kaptur says record trade deficits are ‘stifling real economic growth’

U.S. Congresswoman Marcy Kaptur (OH-9) responded to the release of December’s trade deficit by the Department of Commerce last week, saying the deficits are “stifling real economic growth.”  The trade deficit soared to an all-time high of $725 billion, which is $108.2 billion more than the 2004 deficit of $617.6 billion.  This is an 18 percent increase over last year’s already record-breaking deficit. 

“The United States becomes more and more beholden to foreign interests that are financing these deficits,” continued Kaptur.  “We are not only shipping jobs overseas, we are shipping billions of dollars in interest payments on U.S. debt now held by foreign interests.  Is it is no surprise that retailing of foreign goods is now America's biggest business.”

Kaptur has introduced the Balancing Trade Act of 2005 (HR 4405), which will require the U.S. president to take action when the United States faces deficits.  It would mandate that the president correct these imbalanced trading relationships with any nation where our deficit with them would equal $10 billion for three consecutive years.   

“Every year, with all the unfair trade agreements that have been signed, the red ink just keeps getting deeper.  We are hemorrhaging America’s good jobs, with fewer people working at good jobs to create real wealth,” said Kaptur.

Through November of 2005 the United States had already broken the previous year’s record of $618 billion.  Today’s numbers mark the fourth consecutive year that U.S.-America’s trade deficit has set a record. 

“Alan Greenspan warned that this relentless growth in the trade deficit cannot persist,” said Kaptur.  “How long will it be before we put a foreclosure sign on our U.S. Department of the Treasury?  What an embarrassment for a Nation founded in independence.

“There are signs that the president is finally realizing the importance of energy independence, but he also needs to understand how these record trade deficits threaten our independence.  What will it take for him to pay attention to a crisis that is stifling economic growth and shipping American jobs overseas?”





Web laprensa


«Tinta con sabor»     Ink with flavor!



Spanglish Weekly/Semanal

Your reliable source for current Latino news and events providing English and Spanish articles


Culturas Publication, Inc. d.b.a. La Prensa Newspaper

© Copyrighted by  Culturas Publication, Inc. 2005