The Blame Game
Not for nothing do they call economics the dismal science. Consensus held that a plummeting dollar — making U.S. exports more affordable — and a drop-off in the price of oil would shrink the country's yawning trade deficit. Instead, it leapt to a record $60.3 billion in November, up from $56 billion a month earlier. How to explain the missed call? Moody's Investors Service labeled it "an atrocious month for U.S. exports," suggesting "ineffective business and government leadership may be to blame."

But U.S. Treasury Secretary John Snow found a handier...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!