Posted on 04/05/2016 5:58:34 PM PDT by central_va
Recent economic reports, including some by the Economic Policy Institute (EPI), have delved into the devastating damages done to the American economy because of our sky-rocketing trade deficit. It’s no secret that the U.S. trade deficit is high. After all, our trade deficit is responsible for the transfer of over $1 billion a day to foreign countries. The EPI report took it a step further and claimed that our trade deficit increased our budget deficit by between $78.8 billion and $165.8 billion in 2012.
Our trade deficit warrants attention because it is a devastating problem that is hurting not only the average American worker, but also small and mid-sized companies and communities. Without solutions, the economy will continue to suffer.
(Excerpt) Read more at economyincrisis.org ...
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I might be OK with a trade deficit if we did not have a budget deficit as well.
In a simplistic manner, a trade deficit is like an even trade — we give them US currency and we get Stuff. I like stuff.
But with the government injecting a trillion dollars of phony money into our economy, we skew everything. Now we think we have money in our pocket when we really don’t. We have IOUs. Then we go and buy Stuff from China. And we owe China the price of the stuff and also the interest on the trillion dollars. This is not a good deal.
We need a better budget policy.
We need a better trade policy.
We need better regulatory policy.
We need a better business climate.
Bring businesses back. Produce stuff. Employ people. Keep money circulating here where it can do the most good.
I'm surprised there was hardly a peep about it on FreeRepublic when the Fed stopped reporting the M3 money supply measure around 2006. There was no doubt in my mind that this was done to mask the huge piles of cash that were being shipped to Iraq to help pay for the war effort -- including the outright bribery of Iraqi tribal leaders.
We should pass a law to balance it.
Trump is trying to explain it but I fear most Americans are too ignorant to understand. It is Trump and only Trump that would correct the trade deficit. Cruse would do nothing but maintain the current foul trade.
A nice fat juicy tariff act would do the trick. President Washington would approve.
Yes, we can tax our way to prosperity!
Can’t wait to add to our trade deficit with Canada tomorrow!
Who is “economy in crisis”?
Go check their about us page.
You will find quotes from a 9.11 truther, an Air America personality, and a Huffington post contributor. I kid you not.
A man is known by the company he keeps.
Bookmark
And the people of Wisconsin, a state badly damaged by “free trade”, just voted for Cruz who despite all of his slick words, has helped to create the trade imbalance that has hurt Wisconsin.
This country is finished unless Trump wins.
Cruz is more of he same old same old.
Just so you know, EPI euphemistically is known as a “left of center” econ think-tank. Funny to watch the paleos lap it up.
Who is “Economy in Crisis”?
According to their “Who We Are” page (1), only the following three people are named: a 9/11 Truther, a radical left-wing Air America personality and a regular Huffington Post contributor. If you disagree with those sources, you may wish to reconsider the general validity of this article.
Here are the people listed on the “Economy in Crisis” “Who We Are” page:
PAUL CRAIG ROBERTS - 9/11 TRUTHER (2):
Roberts comments on the “scientific impossibility” of the official explanation for the events on 9/11. On August 18, 2006, he wrote:
I will begin by stating what we know to be a solid incontrovertible scientific fact. We know that it is strictly impossible for any building, much less steel columned buildings, to “pancake” at free fall speed. Therefore, it is a non-controversial fact that the official explanation of the collapse of the WTC buildings is false.... Since the damning incontrovertible fact has not been investigated, speculation and “conspiracy theories” have filled the void.[42]
In November 2012 Roberts, referred to al Qaeda’s role in the attack as “unsubstantiated.”[43]
THOM HARTMANN – AIR AMERICA RADIO (3)
“Thom Hartmann is the #1 progressive radio talk show host in the US”
PAT CHOATE – HUFFINGTON POST (4)
“In 1996, he was Ross Perot’s vice presidential running mate.”
“A man is known by the company he keeps.” If you don’t prefer to keep company with 9/11 Truthers, Air America, The Huffington Post, and central_va, please do skip this article.
(1) http://economyincrisis.org/who-we-are
(2) https://en.wikipedia.org/wiki/Paul_Craig_Roberts#September_11.2C_2001_attacks
(3) http://www.thomhartmann.com/
(4) http://www.huffingtonpost.com/pat-choate/
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