Yet 2 million new jobs were created in the last 12 months

And real wages rose by 1.8%, which means people have more money in their pockets.
The doom and gloom of this article is deceiving at best.

It states that;” Last year's deficit was $765.3 billion—that is, the U.S. imported $765.3 billion more in goods and services than it exported.”
But the facts are exports are exceeding imports by 2.2% for 06 (first time since 97.)
Service exports amount to 30% and have been stable with a running surplus for the past several years so there is a trade-off when it comes to all the talk about having to talk to foreigners with computer related help.
It’s our export of goods that is lacking and has been for decades not a Bush created problem.

I don’t get the “American Dream” failure claim.
More people low-income people bought houses than ever before and they aren’t buying the houses of 10-20 years ago. They have what was considered upgrades back then like dual pane window, insulation, power roll-up garage doors and forced heating/cooling.

People who already own homes are upgrading them like crazy flocking to Home Depot, Lowe’s and the like spending there well earned money. Was that happening like it is now 20 years ago? The rich sure don’t go to Home Depot they hire contractors to do the work and those contractors go to higher end lumberyards and cabinetmakers.

Who is buying Starbucks coffee at $5 per cup? The rich didn’t make it possible for exceeded Starbucks stock expectations, middle class did and buying a $5 cup of coffee was unheard of 10-20 years ago. I won’t buy a $2 cup of coffee; maybe people should reevaluate their priorities so the can better keep their dreams.

Look at the cruise line industry. 45% of the people who go on a cruise earn 25K to 65K with an increase of 10% a year on booking. Twice as many ships are around now than in the 80’s. 20 years ago this was unheard of.

The middle class are taking mini-vacations like never before too with the recreation industry booming. As people are becoming more heath oriented they spend their leisure time rock climbing, canoeing, skiing and the likes contributing to the billion-dollar industry and most of them are the middle class folks with money to do them.

Sure there is always going to be foreclosures and layoffs but our overall economy is growing and unemployment is at historic lows.

The article describes what needs to be done to help curve our goods deficit, but wouldn’t count on China helping much.

I would like to know of a president who has done more and what was he did more than Bush has done to curve the trade deficit.