Impact of U.S. trade deficit with Japan on U.S. economy and state spending, 2013
| Change in 2013 | Impact |
|---|---|
| Trade deficit (billions of dollars) | $78.3 |
| Gross Domestic Product | |
| in annual billions of dollars | -$125.3 |
| as a share of GDP | 0.747% |
| Number of jobs displaced | 896,600 |
| Federal budget deficit | |
| in annual billions of dollars | $46.4 |
| as a share of federal deficit | 7.4% |
| State and local budget funds | |
| in annual billions of dollars | -$17.5 |
Source: Author's analysis of Bivens (2014), U.S. Census Bureau (2013), U.S. International Trade Commission (USITC 2015), Bureau of Labor Statistics (BLS 2014a), and BLS Employment Projections program (BLS-EP 2014a, 2014b, and 2014c). For a more detailed explanation of data sources and computations, see the appendix.