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.
FYI median income in the US has been down the last several years...