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Where Did the Big US Deficit Come From?

There is much debate about the growing U.S. deficit. Everyone wants to lower the deficit but no one wants to give up parts of Medicare, Social Security or other government programs for retired people. In 2001, when Bill Clinton left office, the government had a surplus. It was taking in more money from taxes than [...]

May 12, 2011 / No Comment / Read More

Does the World Depend on US Trade Deficits?

The value of the US dollar is dropping quickly compared to the Euro, Pound and Yuan. Much of this drop is because of a weaker US economy and a stronger world economy. But much of that stronger world economy is because of exports to the US. Many economies, including China, depend heavily on exports to [...]

April 9, 2011 | Filed under Chimerica | Read More