Deficit Dilemma

   The U.S. trade deficit rose by 5.3 percent in April, to $37.4 billion, the government reported. Some object that this is a terrible thing, but consider this: It really means that Americans bought more stuff than they sold.
   Even so, exports by American firms rose in value 1.5 percent to $182.8 billion, while imports increased by 2.1 percent, to $220.2 billion.
   Separately, the Labor Department said U.S. firms added only 38,000 jobs in May, prompting concern that this would delay a central bank move to boost interest rates in a recovering economy.
   However, the unemployment rate nationwide slid to 4.7 percent, from 5 percent.
   Earlier this week, the Federal Reserve noted that economic growth nationwide was at best moderate, putting some doubt on its plans to cut back on its stimulus program. Fed officials have said repeatedly that their decisions are "data driven," so when underlying statistics show better evidence of a stronger economy, they will act.
   Even so, despite a continuing but slow recovery from the Great Recession, which ended seven years ago, economic conditions worldwide may add a further drag on the U.S. economy.