[wideawake]

The article says that we are increasingly having to rely on China and oil exporters to bail us out.

The article says many things.

The question is: are they true?

The national debt problem would never have gotten to where it is without our trade imbalance

Really? So it is impossible for a country with a positive trade imbalance to borrow money?

Or, alternatively, it is impossible for a country with a negative trade imbalance to delever?

Here's a hint: our trade imbalance is currently $61 billion. Our total economy is $13.5 trillion.

In other words, our trade imbalance is 0.4% of our economy.

[1rudeboy]

I have no problem with people who think our trade deficit is detrimental. I have a problem with people who think addressing our trade deficit will work towards our budget crisis.

I just bought a twelve-pack of Foster's. I added to our trade deficit. I didn't do squat with regard to our budget deficit.

[Toddsterpatriot]

Really? So it is impossible for a country with a positive trade imbalance to borrow money?

Ask Japan. They've had huge trade surpluses since forever. Here's the last 20 years or so. Their government debt is about 150% of GDP, according to this.

If our level of 66% means we're doomed, I guess Japan died about 5 years ago.