“The U.S. trade deficit swelled to $66.1 billion in September, far surpassing the previous record and providing a stark reminder of the United States' dependence on foreign capital to fund its import bill.” (San Jose Mercury News, Friday)
If you count everything, there’s no deficit.
FEE Timely Classic
“Free Trade Has Been Refuted? It Just Ain’t So!” by George C. Leef