Now that comment is totally like my ex-wife: We can't be broke, we still have checks in the check book
So you're saying deficits are okay?
The whole mind-set; spend it if ya got it, borrow if you don't.... is an acceptable policy?
Borrowing and flooding the world with greenbacks is a good thing/don't matter?
Argentina anyone?
No wonder the whole country is in deep Kimpchee!!!
No, he's saying that your trade deficit is ok, and your budget deficit is not. How many dozens of times has this been explained to you?
If I increase my purchases of foreign goods by $1,000,000 without borrowing, do you think that increases the Federal deficit?
If I decrease my purchases of foreign goods by $1,000,000, do you think that decreases the Federal deficit?
Borrowing and flooding the world with greenbacks is a good thing/don't matter?
The greenbacks I'm flooding the world with aren't borrowed. Is that a bad thing? Or does it matter?
No, I am not. I am saying that:
Trade deficits are not an issue;
Budget deficits are a problem.
The two are wholly separate items, and one does not cause the other. Remember, you have a massive trade deficit with your grocer, your gas station, your clothing store.
Trade deficits or surpluses are a measure of the economic trade activity of private business; it's NOT a measure of the income of the Country! In fact, our GDP has grown right along with our trade deficits.
All a trade deficit means is that we generate enough revenue internally that we can consume even more than we export; it says NOTHING about the total revenue and wealth generation going on.
Budget deficits are a measure of your checkbook account; that is a serious concern.