What’s wrong with this picture?
Israel’s current account surplus in its balance of payments widened to $1.96 billion in the second quarter of 2007 from $1.3 billion in the first quarter of 2007, the Central Bureau of Statistics said on Sunday.
(in millions of dollars)
Q2 07 Q1 07* Q2 06*
Exports of goods/svcs 17,205 16,645 16,217
Imports of goods/svcs 17,620 16,768 15,541
Net Current Transfers 1,952 1,688 1,666
Balance + 1,957 + 1,335 + 1,980
Note – Data are seasonally adjusted.
— The bureau said Israel’s current account surplus narrowed to $3.3 billion in the first half of 2007 from $4.2 billion in the second half of 2006.
Meanwhile as far back as 2005, the US trade deficit reached a a record-breaking $805 billion. Of course, by now it’s much larger.
So, this raises the question: why – if Israel’s economy is in such good shape and ours is in such bad shape – does our government keep giving them billions upon billions of our tax dollars???
Do you really want to KNOW?
Or is it too hot for you to handle?