[Willie Green]

Does anyone know the last time we didn't have a trade deficit?

U.S. MERCHANDISE IMPORTS, EXPORTS, AND TRADE DEFICITS: 1940-2003

It looks like it was 1975.
The value of the dollar has declined signficantly since then.

[TChris]

It looks like it was 1975.

The value of the dollar has declined signficantly since then.

And what has happened to the American standard of living in those thirty years? Has it suffered? No.

Next?

[Ditto]

It looks like it was 1975.
The value of the dollar has declined significantly since then.

I knew 1975, Willie. 1975 was NOT a good friend of mine -- or other living creatures who like prosperity.

Has the dollar declined since then? Or have we wrung out inflation? Perhaps you don't recall Jerry Ford and the stupid WIN buttons. Or wage and price controls? Or double digit mortgage rates?

[Citizen of the Savage Nation]

It looks like it was 1975.

So we should be so lucky to have it like it was in the '70s and we will be better off to have the lifestyles that the Chinese, Japanese, and German economies afford their citizens? No thanks. If having a balanced trade means earning less, higher taxes, and paying more for home-grown goods (like EU), I'll pass. Hasn't exactly worked out so well for them, since they can't even afford their own goods.