Breitbart Business Digest: Five Decades of Deficits and Counting

The Current Account Deficit Narrowed, But Don’t Celebrate Yet

The Bureau of Economic Analysis reported on Wednesday that the U.S. current-account deficit narrowed sharply in the fourth quarter, falling 20.2 percent to $190.7 billion from a revised $239.1 billion in the third quarter. As a share of GDP, the deficit dropped from 3.1 percent to 2.4 percent.

Expect to see this framed as good news. In a narrow sense, it is. Exports rose, imports fell, and — most strikingly — the balance on primary income flipped from a deficit in the third quarter to a surplus in the fourth. That means Americans earned more on their investments abroad than…

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