“The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.” (Associated Press, Tuesday)
“Nothing, however, can be more absurd than this whole doctrine of the balance of trade.” –Adam Smith
FEE Timely Classic
“The Trade Deficit Is Debt? It Just Ain’t So!” by Donald J. Boudreaux
