Breitbart Business Digest: The Hidden Cost of America’s Trade Deficit Is a Permanent Budget Deficit

When we emerged from World War II as the world’s greatest economy, in part because the war was almost exclusively fought outside of the continental U.S. while Europe and Asia were ravaged, we set out to rebuild the economies of our allies. The idea was that the trade imbalances would cure themselves as the world marched toward free and more open trade, greater efficiency, and a world order dominated by liberal democracy. In that sense, the U.S. fiscal deficit is the mirror of the trade deficit.

Author: John Carney, John Carney

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