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Originally Posted by richlevy
So if I run up a $40,000 bill on my credit card it shows I am successful because someone was willing to extend me that kind of credit.  |
No, no, a $40,000 debt is your problem. A $40,000,000,000 debt is your creditors' problem
In any case, the trade deficit (unlike the budget deficit) has nothing to do with either. There's no real debt involved; it never has to be paid back. I have a major trade deficit with Apple Computer, for instance, and we're both fine with that.