If a country consumes more than it produces, it must import more than it exports. That’s not a rip-off; that’s arithmetic.
If we manage to negotiate a reduction in the Chinese trade surplus with the United States, we will have an increased trade deficit with some other country.
Federal deficit spending, a massive and continuing act of dissaving, is the culprit. Control that spending and you will control trade deficits.
But, of course this president and his Republican Congress just massively increased the deficit. All the better to gut Social Security and Medicare next year, doncha know.
I long for leaders who actually know things.
