Trade Gap Record

The trade deficit was about $70 billion in the month of August. That's the second record high in as many months. This is important because the trade deficit is a number that subtracts from our nations GDP. The GDP is a number that is supposed to be a guide as to our countries economic activity. The blame for the record deficit is being pushed toward the higher cost of oil imports for those months. The good thing is those oil futures have been decreasing so the trade deficit is likely to decrease in the next couple of months. Is our countries trade deficit a major concern? Should the government be in debt? On a personal level, could we live and be comfortable (no less be capitalistic) on a debt free diet? What do you think?

http://money.cnn.com/2006/10/12/news/economy/trade/index.htm?postversion=2006101212