- The Washington Times - Wednesday, September 17, 2008

WASHINGTON (AP) The deficit in the broadest measure of American trade widened in the spring, reflecting a big jump in the country’s foreign oil bill.

The Commerce Department says the current account trade deficit increased by 4.3 percent to $183.1 billion in the April-June quarter, compared to a revised deficit of $175.6 billion in the first quarter.

The current account is the broadest measure of America’s dealings with the rest of the world because it includes not only trade in merchandise and services but also investment flows. The deficit represents the amount of money the country is borrowing from foreigner


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