Listening to the news, I am confused when it comes to deficits and their importances. There is the Budget Deficit, the national debt and the Balance of trade deficit. All three have one thing in common. The United States is on the debit side at an ever acceleration rate. These moneys ar increasingly being held by foreign nations. Do you suppose we are so willing to sell off our infrastructure because we are being blackmailed into it? Try and find out who owns the Westinghouse Nuclear operation. It is either Britian or Japan, not the US. One of them will get a substantial loan ( $5 Billion) from the US to finance 4 nuclear power plants being built in China.
The BBC has a decent article on the Balance of Trade problem. More on this later.
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