Incredibly Shrinking Trade Deficit? Think Again

Is the media smoking something when it comes to reporting about the nation's trade deficit with China? The folks at the economics blog Seeking Alpha seem to think so, given the latest round of coverage over an allegedly shrinking gap.

Don't believe what you read all the time. The New York Times recently reported that the U.S.-China trade gap had narrowed to $23.4 billion, the lowest level in months.

Not true, notes Seeking Alpha. In February, our nation's deficit to the dragon for goods hit $321 billion, the worst in 12 months.

What gives? Is the media purposely leading Americans astray? How are they getting it so wrong?

Several explanations, according to Seeking Alpha. Reporters "crib from each other," resulting in pack journalism stories. Or they're "in campaign mode."

"Like the D-Day planners who hid the Normandy location with a bodyguard of lies, they are hiding the Obama administration's incompetence with a bodyguard of lies," the blog states.

Read all about it: