Wednesday, January 30, 2019

Trade, Oil Production

According to a January 2018 report by the Pew Research Center, “in the four decades since the current system for budgeting and spending tax dollars has been in effect, Congress has managed to pass all its required appropriations measures on time only four times: in fiscal 1977 (the first full fiscal year under the current system), 1989, 1995 and 1997.”
So the Congress seems to be unable to perform its basic functions, functions essential to the running of the State. So, why should we have confidence they can improve complicated things?

In 2017, the value of international U.S. exports of services amounted to 780.8 billion U.S. dollars.  In 2017, U.S. exports amounted to 1.55 trillion U.S. dollars. So the  service-sector outputs account for nearly 80 percent of U.S. GDP and 34 percent of U.S. exports.

Some charts:

The record is clear that when America’s total trade is increased, American jobs have also increased, and when our total trade has declined, so have the number of jobs


Two startling charts on the growth of U.S. oil production:

No comments: