I wrote this essay around the time of the 2004 election. I attended a NABE meeting in Washington and sat in the back of the room. The keynote address was by Greg Mankiw and I asked a question about the US deficit on our trade account that had reached $500 billion dollars. I'd been writing about why this was dangerous for several years without much influence. His response didn't surprise me. At the time John Edwards was the only "populist" in the race to replace George Bush. Donald Trump's complaint is a familiar one, but since that ill fated year the trade deficit increased reaching an apex of over $800 billion. It should remain in the $ 700 billion range for the foreseeable fucture, but without some dramatic and very dangerous interventions, we will have to remain the global engine of growth.
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1/11/2020 04:55:34 am
I am not an economist nor a person who is passionate on this matter. I guess, this is too profound and deep for a person like me! But I still had the eagerness to finish it because I realized that it may have something to do with me. If our leaders will study closely the really situation of the country, they will know the possible solutions they can come up to and present it to people With the cooperation of people, they will be able to accomplish something for sure!
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