George Shultz and Martin Feldstein , in the Washington Post If a country consumes more than it produces , it must import more than it exports. That’s not a rip-off; that’s arithmetic.
If we manage to negotiate a reduction in the Chinese trade surplus with the United States , we will have an increased trade deficit with some other country.
Federal deficit spending , a massive and continuing act of dissaving , is the culprit. Control that spending and you will control trade deficits.
That's not an excerpt , it's the whole thing. Someday , I will learn to be this concise.
