"The president's failed economic policies have resulted in another month of record trade deficits, once again highlighting the need for a new direction," said House Democratic Leader Nancy Pelosi.
The trade deficit, running at an annual rate of $784 billion through August, is on track to set a fifth consecutive annual record, topping last year's mark of $716.7 billion.
The deficit with China shot up by 12.2 percent to a record of $22 billion in August and is running 13.5 percent above last year, when it hit $202 billion, the highest ever recorded with a single country. HA HA HA AMERICA (VIDEO)
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