Wednesday, April 25, 2007
What Trade Deficits Really Mean
The media always makes trade deficits seem so bad.
Maybe that's not so true...
Maybe that's not so true...
At the Heritage Foundation, Brian S. Wesbury explains:
"I want to tell you that the United States in the past year has produced more goods than it has produced in any 12-month period in its history. So, despite the trade deficit, we are still the world's largest exporter and the world's largest manufacturer. The facts do not support the rhetoric of the doom-and-gloomers. The U.S. economy is simply amazing.
Thriving with a Strong Dollar
Now, let's talk about the dollar, which has been weak in recent years. Many people argue that the dollar is falling because of this massive trade deficit. I say--baloney!"
