Trace Deficits with China by President: (click here)
Ronald Reagan
1985 : $6 million
1988: $3.5 billon
The trade deficit with China grew under Ronald Reagan exponentially. Job growth in the USA grew 1.43 percent in his first term. Job growth in his second term was 2.69 percent.
George H. W. Bush
1989: $6.34 billion
1992: $18.3 billion
The trade deficit with China under H.W. Bush tripled. US job growth during his term was 0.62 percent.
Bill Clinton
1993: $22.78 billion
2000: $83.83 billion
The trade deficit with China increased under Bill Clinton 3.5 times. US job growth during his first term was 2.64 percent and in his second term was 2.33 percent.
George W. Bush
2001: $83.10 billion
2008: $268.04 billion
The trade deficit with China grew 3.25 times. US job growth was 0.01 percent in his first term. US job growth 0.23 percent during his second term. Basically, under "W" there was no job growth and the same was about the same under H.W.
Barack Obama
2009: $226.87 billion
2015: $337.06 billion
The trade deficit with China grew the least under President Obama than any other President at 1.5 times. President's last year has yet to be realized. US job growth under Barack Obama was 0.25 percent during his first term. US job growth under Barack Obama was 1.99 percent so far during his second term.
I thought that was interesting. Bill Clinton was the only USA president that had significant job growth while the deficit with China grew as well. The American people did better under Clinton when it comes to jobs in the USA.
Just sayin'. How is any country going to close the trade gap if there is no job growth or income to the people of the USA to purchase domestic goods. Not only this side of the Pacific, but, the Chinese trade gap will change when the Chinese middle class develops and purchases imported products.
