Re-Balancing U.S. Trade and Capital Accounts
Posted by scapozzola on 01/22/2010
Rob Scott at the Economic Policy Institute reports that while the U.S. trade deficit collapsed in 2008 and early 2009, it started to grow again in the 2nd half of last year and is expected to reach 5-6% of GDP within a few years. Scott believes that preventing this type of deficit growth and closing the trade deficit are two of the most important steps that can be taken to rebuild U.S. manufacturing.
In a report titled "Re-Balancing U.S. Trade and Capital Accounts," Scott argues that Warren Buffett’s plan for eliminating the trade deficit could also address some of its underlying structural causes.
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